<SEC-DOCUMENT>0001554855-23-000199.txt : 20230330
<SEC-HEADER>0001554855-23-000199.hdr.sgml : 20230330
<ACCEPTANCE-DATETIME>20230329184424
ACCESSION NUMBER:		0001554855-23-000199
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230329
FILED AS OF DATE:		20230330
DATE AS OF CHANGE:		20230329

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:		23776674

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

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>MainDocument.htm
<DESCRIPTION>6-K
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">UNITED STATES</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">Washington, D.C. 20549</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-size: 15pt; font-weight: bold;">Form 6-K</font></p>
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<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">Report<font>&nbsp;</font></font><font style="font-size: 12.5pt; font-weight: bold;">o</font><font style="font-size: 12.5pt; font-weight: bold;">f Foreign Private Issuer</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">Pursuant<font>&nbsp;</font></font><font style="font-size: 12.5pt; font-weight: bold;">t</font><font style="font-size: 12.5pt; font-weight: bold;">o Rule 13a-16 Or 15d-16 Of</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 12.5pt; font-weight: bold;">The Securities Exchange Act Of 1934</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 9pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">For the month of March 2023</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">Commission File Number: 001-14950</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 14.5pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 14.5pt; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p 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-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><font style="font-size: 10pt;">(Translation of Registrant&#8217;s Name into English)</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;"><font style="font-weight: bold;">Brigadeiro Luis<font>&nbsp;</font></font><font style="font-weight: bold;">Antonio</font><font style="font-weight: bold;"><font>&nbsp;</font>Avenue</font><font style="font-weight: bold;">, 1343, 9</font><font style="font-weight: bold; vertical-align: super;">th</font><font>&nbsp;</font><font style="font-weight: bold;">Floor</font></font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt; font-weight: bold;">S&#227;o Paulo, SP, Brazil 01317-910</font></p>
<p 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-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><font style="font-size: 10pt;">(Address of Principal Executive Offices)</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 8pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">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="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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">Form 20-F ____<font style="text-decoration: underline;">X</font>____ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F ________</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">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="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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">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;&nbsp;&nbsp; No ____<font style="text-decoration: underline;">X</font><font style="text-decoration: underline;">____</font></font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">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="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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><font style="font-size: 10pt;">&nbsp;</font></p>
<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;">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;&nbsp;&nbsp; No ____<font style="text-decoration: underline;">X</font><font style="text-decoration: underline;">____</font></font></p>
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<p 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-indent: 0px; text-transform: none; white-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; text-align: center;"><font style="font-size: 10pt;"><font style="text-decoration: underline;"><br></font></font></p>
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<p style="font-size: 11pt; line-height: 115%; margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 13pt; font-weight: bold;"><br></font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: center;"><font style="font-family: 'times new roman', times; 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: 'times new roman', times; font-size: 13pt; font-weight: bold;">TABLE OF CONTENTS</font></p>
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<h4 style="vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px;"><font style="text-decoration: underline; font-family: 'times new roman', times; font-size: 10pt;">ITEM</font></h4>
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<td style="height: 17px; width: 99.7549%; padding: 0px 0px 0px 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><a href="#Bssbbgg_FGKX58T22O00000000000000000000">1. Minutes of the Meeting of the Board of Directors of Ultrapar Participa&#231;&#245;es S.A., held on March 29, 2023</a></font></td>
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<td style="height: 17px; width: 99.7549%; padding: 0px 0px 0px 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><a href="#Bcoe_FNRSDRK20W00000000000000000000">2. Code of Ethics</a></font></td>
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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;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></font></p>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h2 style="font-size: 10pt; line-height: 150%; margin: 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Publicly</font> <font style="font-weight: bold;">Traded</font> <font style="font-weight: bold;">Company</font></font></h2>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>CNPJ </font><font>Nr</font><font>.</font><font> 33.256.439/0001-39</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">NIRE 35.300.109.724</font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bssbbgg_FGKX58T22O00000000000000000000" class="customBookmark"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS </font></a></div>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Date, </font><font style="font-weight: bold;">Hour</font><font style="font-weight: bold;"> and Place</font><font>:</font></font></p>
<p style="font-size: 11pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;">March 29</font><font style="line-height: inherit;">, 2023, </font><font style="line-height: inherit;">at </font><font style="line-height: inherit;">2</font><font style="line-height: inherit;">:</font><font style="line-height: inherit;">3</font><font style="line-height: inherit;">0 </font><font style="line-height: inherit;">p</font><font style="line-height: inherit;">.m., </font><font style="line-height: inherit;">at the Company&#8217;s headquarters, located at Brigadeiro Lu&#237;s Ant&#244;nio Avenue, Nr. 1,343, 9th floor, in the </font><font style="line-height: inherit;">City</font><font style="line-height: inherit;"> of and State of S&#227;o Paulo</font><font style="line-height: inherit;">,</font> <font style="line-height: inherit;">also contemplating participation through Microsoft Teams</font><font style="line-height: inherit;">.&nbsp;</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Members in Attendance</font><font>:</font></font></p>
<p style="line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;">(i) Members of the Board of Directors undersigned; (ii) Secretary of the Board of Directors, Mr. Andr&#233; Brickmann Areno; (iii) Chief Executive Officer, Mr. Marcos Marinho Lutz; (iv) </font><font style="line-height: inherit;">Chief Financial and Investor Relations Officer, Mr. Rodrigo de Almeida Pizzinatto; </font><font style="line-height: inherit;">and </font><font style="line-height: inherit;">(v) </font><font style="line-height: inherit;">other executive officers of the Company, namely, Mrs. </font><font style="line-height: inherit;">D&#233;cio</font><font style="line-height: inherit;"> de Sampaio Amaral, Leonardo </font><font style="line-height: inherit;">Remi&#227;o</font><font style="line-height: inherit;"> Linden, Marcelo Pereira Malta de Ara&#250;jo </font><font style="line-height: inherit;">and</font><font style="line-height: inherit;"> Tabajara Bertelli Costa</font><font style="line-height: inherit;">. </font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Matters discussed and resolutions</font><font>:</font></font></p>
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<p><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>The members of the Board of Directors discussed the Company's main provisions and contingencies</font><font>.</font></font></p>
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<td style="width: 5%; height: 69px; vertical-align: top;" valign="top">2.</td>
<td style="width: 95%; text-align: justify; height: 69px;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">The Board of Directors approved the amendments to the Company's Code of Ethics, as proposed&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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">by the Executive Board endorsed by&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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">the Audit and Risks Committee, having also determined the amendments&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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">to be replicated in the Internal Regulations of the Conduct Committee, when applicable.<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: 1.06667px; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-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; line-height: inherit;">&nbsp;</font>Furthermore, the&nbsp;Board members approved the following changes in the composition of the Conduct&nbsp;Committee, effective as of April 19, 2023: (i) the election of Mrs. Fl&#225;via&nbsp;Buarque&nbsp;de Almeida, as a member of the Conduct Committee, replacing Mr.&nbsp;Frederico&nbsp;Pinheiro&nbsp;Fleury&nbsp;Curado; and (ii) the resignation of Mr. Julio Cesar&nbsp;Nogueira.</font></font></td>
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<td style="width: 5%; height: 17px; vertical-align: top;" valign="top">3.</td>
<td style="width: 95%; height: 17px; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">Considering the proposals for the global compensation of the management and the new stock-based Incentive Plan submitted to the resolution of the Company's&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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">xtraordinary&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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">G</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; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">eneral Shareholders&#8217;&nbsp;Meeting, called for April 19, 2023, and conditioned to the approval of the resolutions by the referred meeting, the Board of Directors approved, based on the recommendation of the People Committee:</font></font></td>
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<td style="height: 17px; vertical-align: top; width: 3.18627%;" 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: 1.06667px; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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>
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<td style="height: 17px; width: 88.6029%;"><font style="font-size: 10pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the new wording of the Corporate Executive Compensation Policy</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">;</font></font></td>
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<td style="height: 17px; vertical-align: top; width: 3.18627%;" 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: 1.06667px; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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>
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<td style="height: 17px; text-align: justify; width: 88.6029%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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 1st Restricted and Performance Shares Incentive Program (&#8220;1st Program&#8221;), including performance goals to which the transfer of ownership of performance shares will be <font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">subject to</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">as well as the list of designated participants in the 1st Program&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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">a</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">nd the respective number of shares to be granted</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Said</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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;documents will be filed at the Company's headquarters;</font></font></td>
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<td style="height: 17px; vertical-align: top; width: 3.18627%;" 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: 1.06667px; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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>
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<td style="height: 17px; text-align: justify; width: 88.6029%;"><font style="font-size: 10pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the 1st Stock-Based Incentive Program &#8211; Board of Directors</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">which will be filed at the Company&#8217;s headquarters, under the terms presented to the Company's shareholders in the Annual and Extraordinary General Shareholders' Meeting Manual disclosed to the market on March 17, 2023;&nbsp;and</font></font></td>
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<td style="height: 17px; vertical-align: top; width: 3.18627%;" 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: 1.06667px; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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>
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<td style="height: 17px; text-align: justify; width: 88.6029%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: 1.06667 px; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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 execution of such agreements between the Company and each participant of the programs mentioned in items (ii) and (iii) above, according to the standard draft <font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">agreement filed at the Company&#8217;s headquarters</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; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">.</font></font></td>
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<td style="width: 5%; vertical-align: top; margin: 0px; text-indent: 0px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: 1.06667px; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-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%; text-align: justify; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-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; line-height: inherit;"> Finally, to Board members Alexandre Teixeira de Assump&#231;&#227;o Saigh, Jos&#233; Gall&#243;, Jos&#233; Luiz Alqu&#233;res and Ot&#225;vio Lopes Castello Branco Neto, who are now ending their terms of office, the Board of Directors expresses its votes of gratitude for their effort and valuable contributions brought over the last years </font></td>
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<td style="text-align: justify; line-height: 1.2; margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">To Board members Pedro&nbsp;Wongtschowski&nbsp;and&nbsp;Frederico&nbsp;Pinheiro&nbsp;Fleury&nbsp;Curado, who are also leaving the Company, the Board of Directors expresses a special acknowledgment, reinforcing the importance of each of their performances in the different roles exercised throughout their careers, and thanking them for their commitment, dedication and for the important legacy left, which was&nbsp;essential&nbsp;to the definition&nbsp;of&nbsp;the Company's strategic direction and to its continuous growth.</font></td>
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<p style="line-height: 18pt; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Note</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">s</font><font>: </font><font>The resolutions were approved, with no amendments or qualifications, by all </font><font>Board members</font><font>.&nbsp;</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>There being no further matters to discuss, the meeting was concluded, and these minutes were written, read, passed, and signed by all the Board members present</font><font>.</font></font></p>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Pedro Wongtschowski </font><font>&#8211; </font><font>Chairman</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Frederico Pinheiro Fleury Curado</font> <font>&#8211; </font><font>Vice-Chairman</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Ana Paula Vitali Janes Vescovi</font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fl&#225;via Buarque de Almeida</font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Jorge Marques de Toledo Camargo </font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Jos&#233; </font><font style="font-weight: bold;">Gall&#243;</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Jos&#233; Luiz </font><font style="font-weight: bold;">Alqu&#233;res</font></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Jos&#233; Mauricio Pereira Coelho </font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Ot&#225;vio Lopes Castello Branco Neto</font></p>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Andr&#233; Brickmann Areno </font><font>&#8211; </font><font>Secretary of the Board of Directors</font></font></p>
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<div style="margin: 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bcoe_FNRSDRK20W00000000000000000000" class="customBookmark"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">CODE OF ETHICS</font></a></div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Mes</font><font style="font-size: 10pt;">sage</font><font style="font-size: 10pt;"> from the leadership</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Over 80 years we have built one of the largest corporation</font><font style="font-size: 10pt;">s o</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;"> B</font><font style="font-size: 10pt;">razil</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">always observing ethics and </font><font style="font-size: 10pt;">transparency</font> <font style="font-size: 10pt;">in the search for our goals, developing our</font><font style="font-size: 10pt;"> interna</font><font style="font-size: 10pt;">l and </font><font style="font-size: 10pt;">externa</font><font style="font-size: 10pt;">l relations with</font><font style="font-size: 10pt;"> integri</font><font style="font-size: 10pt;">ty and </font><font style="font-size: 10pt;">respe</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">contribu</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">in</font><font style="font-size: 10pt;">g t</font><font style="font-size: 10pt;">o </font><font style="font-size: 10pt;">the growth and well-being of</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> co</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">muni</font><font style="font-size: 10pt;">ti</font><font style="font-size: 10pt;">es. </font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Aiming at </font><font style="font-size: 10pt;">ma</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">nt</font><font style="font-size: 10pt;">aining our</font> <font style="font-size: 10pt;">credibili</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;">,</font> <font style="font-size: 10pt;">reputation</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">continu</font><font style="font-size: 10pt;">ing to</font> <font style="font-size: 10pt;">be successful in our</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;">,</font> <font style="font-size: 10pt;">we must have this</font> <font style="font-size: 10pt;">Code of Ethics</font> <font style="font-size: 10pt;">as</font><font style="font-size: 10pt;"> base</font> <font style="font-size: 10pt;">to all of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">decisions</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">ction</font><font style="font-size: 10pt;">s. </font><font style="font-size: 10pt;">All the individuals of the</font> <font style="font-size: 10pt;">Company</font> <font style="font-size: 10pt;">are not only responsible for their own actions, but for </font><font style="font-size: 10pt;">promo</font><font style="font-size: 10pt;">ting </font><font style="font-size: 10pt;">a cultur</font><font style="font-size: 10pt;">e in</font><font style="font-size: 10pt;"> conformi</font><font style="font-size: 10pt;">ty with our</font> <font style="font-size: 10pt;">Code of Ethics and applicable laws</font><font style="font-size: 10pt;">. &#8203; </font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">In this new</font> <font style="font-size: 10pt;">review</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Code of Ethics</font><font style="font-size: 10pt;"> reaf</font><font style="font-size: 10pt;">firms the reli</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">bility on</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">partners</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">external representatives</font><font style="font-size: 10pt;"> to</font> <font style="font-size: 10pt;">ma</font><font style="font-size: 10pt;">k</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> correct</font> <font style="font-size: 10pt;">decisions</font> <font style="font-size: 10pt;">in view of ethical </font><font style="font-size: 10pt;">dilem</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">as</font><font style="font-size: 10pt;"> that could arise from</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">Herein you</font> <font style="font-size: 10pt;">will find </font><font style="font-size: 10pt;">guidelines</font><font style="font-size: 10pt;"> and instructions</font> <font style="font-size: 10pt;">that will support you in choosing the correct path to follow</font><font style="font-size: 10pt;">. </font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Our</font> <font style="font-size: 10pt;">Open Channel</font> <font style="font-size: 10pt;">is also accessible,</font> <font style="font-size: 10pt;">at any time</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">to clear doubts and </font><font style="font-size: 10pt;">recei</font><font style="font-size: 10pt;">v</font><font style="font-size: 10pt;">e su</font><font style="font-size: 10pt;">g</font><font style="font-size: 10pt;">gest</font><font style="font-size: 10pt;">ion</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">re</font><font style="font-size: 10pt;">port</font><font style="font-size: 10pt;">s, inclu</font><font style="font-size: 10pt;">ding anonymously, of</font><font style="font-size: 10pt;"> viola</font><font style="font-size: 10pt;">tions of the</font> <font style="font-size: 10pt;">Company</font><font style="font-size: 10pt;">&#8217;s Policies and </font><font style="font-size: 10pt;">applicable legislation</font><font style="font-size: 10pt;">. </font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Thank you for helping to build the</font><font style="font-size: 10pt;"> futur</font><font style="font-size: 10pt;">e </font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;"> Ultra. </font><font style="font-size: 10pt;">We rely on</font> <font style="font-size: 10pt;">you</font> <font style="font-size: 10pt;">to ensure the</font><font style="font-size: 10pt;"> integri</font><font style="font-size: 10pt;">ty</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Company</font> <font style="font-size: 10pt;">in all daily </font><font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">at</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">itudes.</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="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt; font-weight: bold;">Chairman of the </font><font style="font-size: 10pt; font-weight: bold;">Board of Directors</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt; font-weight: bold;">Ultrapar </font><font style="font-size: 10pt; font-weight: bold;">CEO</font></font></p>
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<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">INTRODUCTION</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Ultra Group</font> <font style="font-size: 10pt;">is</font> <font style="font-size: 10pt;">committed to ethics</font><font style="font-size: 10pt;">, integri</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">transparency</font> <font style="font-size: 10pt;">in all its</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;">es</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">at all levels of </font><font style="font-size: 10pt;">relationship</font><font style="font-size: 10pt;">. The</font> <font style="font-size: 10pt;">responsibility</font> <font style="font-size: 10pt;">for the compliance is shared among everyone, including </font><font style="font-size: 10pt;">Senior Management</font><font style="font-size: 10pt;">, irrespective of position or </font><font style="font-size: 10pt;">fun</font><font style="font-size: 10pt;">ction</font><font style="font-size: 10pt;">.</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The</font> <font style="font-size: 10pt;">Code of Ethics</font><font style="font-size: 10pt;"> (&#8220;</font><font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;">&#8221;)</font> <font style="font-size: 10pt;">is</font><font style="font-size: 10pt;"> p</font><font style="font-size: 10pt;">u</font><font style="font-size: 10pt;">blic</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">ac</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">ess</font><font style="font-size: 10pt;">ible by any person</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">company</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">regardless of the type of</font> <font style="font-size: 10pt;">relationship</font> <font style="font-size: 10pt;">with</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">its</font> <font style="font-size: 10pt;">Business</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">It </font><font style="font-size: 10pt;">ap</font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">li</font><font style="font-size: 10pt;">es to </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">ll </font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">anage</font><font style="font-size: 10pt;">rs</font> <font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">employees</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">without </font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">xceptions</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n B</font><font style="font-size: 10pt;">razil and </font><font style="font-size: 10pt;">abroad</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">The adherence to the Code is mandatory</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">formalize</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> by the acceptance agreement</font><font style="font-size: 10pt;">. </font></font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The provisions of this</font> <font style="font-size: 10pt;">Code</font> <font style="font-size: 10pt;">shall also</font> <font style="font-size: 10pt;">guide the</font> <font style="font-size: 10pt;">conduct</font> <font style="font-size: 10pt;">of all</font> <font style="font-size: 10pt;">external representatives</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">business partners</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as of</font> <font style="font-size: 10pt;">any individual or legal entity operating in the direct or indirect</font><font style="font-size: 10pt;"> interes</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">benefit</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">of its</font> <font style="font-size: 10pt;">subsidiaries</font><font style="font-size: 10pt;">.</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Along the</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">we will </font><font style="font-size: 10pt;">present</font> <font style="font-size: 10pt;">conduct</font><font style="font-size: 10pt;"> recommendations</font> <font style="font-size: 10pt;">on </font><font style="font-size: 10pt;">Laws</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Internal Policies</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font> <font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">about</font><font style="font-size: 10pt;"> ac</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">ess</font><font style="font-size: 10pt;"> t</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;"> the</font> <font style="font-size: 10pt;">channels</font> <font style="font-size: 10pt;">in order to clear doubts</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">report </font><font style="font-size: 10pt;">situa</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> that run counter to the</font> <font style="font-size: 10pt;">guidelines</font> <font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code of Ethics</font><font style="font-size: 10pt;">.</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Ultra Group</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">fer</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">training</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">n the</font> <font style="font-size: 10pt;">Code of Ethics and </font><font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">Integrity</font> <font style="font-size: 10pt;">Program</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">Each person is</font> <font style="font-size: 10pt;">responsible for </font><font style="font-size: 10pt;">di</font><font style="font-size: 10pt;">sclosing</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">multipl</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">ng the content of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;">, foment</font><font style="font-size: 10pt;">ing the </font><font style="font-size: 10pt;">integrity </font><font style="font-size: 10pt;">cultur</font><font style="font-size: 10pt;">e</font> <font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">To learn more about the themes addressed by the</font> <font style="font-size: 10pt;">Code of Ethics</font><font style="font-size: 10pt;"> and</font><font style="font-size: 10pt;"> the</font> <font style="font-size: 10pt;">Integrity</font><font style="font-size: 10pt;"> Program</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">if you need guidance in connection with any theme</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">situation</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">please contact the</font> <font style="font-size: 10pt;">Open Channel</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">your</font> <font style="font-size: 10pt;">Integrity</font> <font style="font-size: 10pt;">area</font><font style="font-size: 10pt;">. </font></font></p>
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<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt; font-weight: bold;">OUR P</font><font style="font-size: 10pt; font-weight: bold;">R</font><font style="font-size: 10pt; font-weight: bold;">INCIPLES AND </font><font style="font-size: 10pt; font-weight: bold;">DRIVERS</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt; font-weight: bold;">ETHICS</font><font style="font-size: 10pt; font-weight: bold;"> IN MANAGEMENT</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;">EQUITY AND DIVERSITY</font></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We treat all of our relationship public on fair </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">equita</font><font style="font-size: 10pt;">ble m</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">nner</font> <font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">we disapprove all</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;"> discrimina</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">undue </font><font style="font-size: 10pt;">favor</font><font style="font-size: 10pt;">itism to</font> <font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> pe</font><font style="font-size: 10pt;">rson</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">company</font><font style="font-size: 10pt;">.</font></font></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We encourage </font><font style="font-size: 10pt;">diversi</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we do </font><font style="font-size: 10pt;">no</font><font style="font-size: 10pt;">t</font> <font style="font-size: 10pt;">toler</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">te</font><font style="font-size: 10pt;">, under no circumstance, </font><font style="font-size: 10pt;">discrimina</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">pre</font><font style="font-size: 10pt;">judice of</font> <font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">nature</font><font style="font-size: 10pt;">, e</font><font style="font-size: 10pt;">ither of gender</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> ra</font><font style="font-size: 10pt;">ce</font><font style="font-size: 10pt;">, religi</font><font style="font-size: 10pt;">on</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">age</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">political </font><font style="font-size: 10pt;">convic</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> marital status</font><font style="font-size: 10pt;">, sexual</font><font style="font-size: 10pt;"> orientation</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">handicap</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">place of birth</font><font style="font-size: 10pt;">, social</font> <font style="font-size: 10pt;">class, am</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">ng other</font><font style="font-size: 10pt;">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">TRANSPARENCY AND RESPONSIBILITY</font></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We a</font><font style="font-size: 10pt;">do</font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> procedure</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">that ensure that </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">public will be duly</font> <font style="font-size: 10pt;">informe</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> ab</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">ut </font><font style="font-size: 10pt;">relevant</font><font style="font-size: 10pt;"> aspect</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">so that</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">communications</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">are true, clear</font><font style="font-size: 10pt;">, a</font><font style="font-size: 10pt;">ppropriate </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">timely</font><font style="font-size: 10pt;">.</font></font></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We are concerned about the</font> <font style="font-size: 10pt;">consequences </font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> a</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">ts, </font><font style="font-size: 10pt;">weighing the effects of </font><font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> a</font><font style="font-size: 10pt;">ction</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">on the</font><font style="font-size: 10pt;"> socie</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">external representatives</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">ourselves before </font><font style="font-size: 10pt;">proceeding</font><font style="font-size: 10pt;">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">C</font><font style="font-size: 10pt;">OMPLIANCE WITH LAWS</font></font></p>
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<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We comply with all </font><font style="font-size: 10pt;">laws</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">regulation</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f the countries where we</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">perate</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not</font><font style="font-size: 10pt;"> tolera</font><font style="font-size: 10pt;">te</font><font style="font-size: 10pt;"> corrup</font><font style="font-size: 10pt;">tion, fraud</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">in</font> <font style="font-size: 10pt;">bidding</font><font style="font-size: 10pt;"> processes</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">public agreement</font><font style="font-size: 10pt;">s, </font><font style="font-size: 10pt;">anti-competitive</font> <font style="font-size: 10pt;">practices </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">ther illegal</font> <font style="font-size: 10pt;">conduct</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">including</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">without</font><font style="font-size: 10pt;"> limita</font><font style="font-size: 10pt;">tion, those provided for in the</font> <font style="font-size: 10pt;">Anticorruption Law</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">Criminal </font><font style="font-size: 10pt;">Legisla</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">, Improbi</font><font style="font-size: 10pt;">ty Law</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">Competition </font><font style="font-size: 10pt;">Law</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">Bidding</font> <font style="font-size: 10pt;">Law </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">U.S. Foreign Corrupt Practices Act</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt risk</font> <font style="font-size: 10pt;">management</font><font style="font-size: 10pt;"> processes</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">internal controls</font><font style="font-size: 10pt;">, inclu</font><font style="font-size: 10pt;">ding </font><font style="font-size: 10pt;">financ</font><font style="font-size: 10pt;">ial</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">accounting</font><font style="font-size: 10pt;">, audit, </font><font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">security </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">anticorruption</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">co</font><font style="font-size: 10pt;">mpetitive controls</font><font style="font-size: 10pt;">, in</font><font style="font-size: 10pt;">tended to</font><font style="font-size: 10pt;"> monitor</font><font style="font-size: 10pt;"> the compliance with standards</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">reven</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">urb illegal acts</font><font style="font-size: 10pt;"> (</font><font style="font-size: 10pt;">such </font><font style="font-size: 10pt;">as corrup</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">bribery, fraud</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">influence peddling</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">undue exchange of</font><font style="font-size: 10pt;"> favors</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">money laundering</font><font style="font-size: 10pt;">).</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">SUSTAINABLE DEVELOPMENT AND HSE</font><font style="font-size: 10pt;"> &#8211; </font><font style="font-size: 10pt;">Health, Safety and Environment</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">W</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> are aware </font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f the </font><font style="font-size: 10pt;">poss</font><font style="font-size: 10pt;">ible</font> <font style="font-size: 10pt;">environmental </font><font style="font-size: 10pt;">impact</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;">. A</font><font style="font-size: 10pt;">ccordingly</font><font style="font-size: 10pt;">,</font> <font style="font-size: 10pt;">we </font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">arry </font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">ut</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">business</font> <font style="font-size: 10pt;">with</font> <font style="font-size: 10pt;">responsibility</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">integrity, always committed to the sustainable </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">rat</font><font style="font-size: 10pt;">ional </font><font style="font-size: 10pt;">use of natural re</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">ources</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We develop</font><font style="font-size: 10pt;"> mec</font><font style="font-size: 10pt;">hanism</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">that</font><font style="font-size: 10pt;"> maximize</font><font style="font-size: 10pt;"> energy efficiency</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">contribu</font><font style="font-size: 10pt;">te to the</font> <font style="font-size: 10pt;">sustainable development</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">f </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">the regions where we operate</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Any environmental </font><font style="font-size: 10pt;">impacts </font><font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;"> are</font><font style="font-size: 10pt;"> monitor</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> thr</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">ugh integrated management </font><font style="font-size: 10pt;">policies</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> processes</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">systems</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">HSE </font><font style="font-size: 10pt;">&#8211; </font><font style="font-size: 10pt;">Health, Safety and Environment</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We operate with</font><font style="font-size: 10pt;"> transparen</font><font style="font-size: 10pt;">cy</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">social</font> <font style="font-size: 10pt;">inclusi</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> in the regions where the business</font> <font style="font-size: 10pt;">activities</font> <font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> are carried out</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">through community </font><font style="font-size: 10pt;">relationship</font> <font style="font-size: 10pt;">programs</font><font style="font-size: 10pt;">, promo</font><font style="font-size: 10pt;">ting development</font> <font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> the areas surrounding</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">operations</font><font style="font-size: 10pt;">.</font></font></li>
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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'>3</font></font></td>
</tr>

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<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><img src="img44bd21e72d4e4993aa4c.jpg" alt="Graphics"></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek sustainable </font><font style="font-size: 10pt;">enga</font><font style="font-size: 10pt;">ge</font><font style="font-size: 10pt;">ment</font><font style="font-size: 10pt;"> in all the</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, systematically reviewing </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;">, investin</font><font style="font-size: 10pt;">g in sustainable improvements</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">ado</font><font style="font-size: 10pt;">pting measures aligned with the Environmental, Social and Governance - </font><font style="font-size: 10pt;">E</font><font style="font-size: 10pt;">SG </font><font style="font-size: 10pt;">practices</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">ETHICS IN RELATIONSHIPS</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 style="font-size: 10pt;">SHAREHOLDERS AND</font> <font style="font-size: 10pt;">INVESTORS</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font> <font style="font-size: 10pt;">policies and practices</font> <font style="font-size: 10pt;">that</font><font style="font-size: 10pt;"> promo</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> alignment between the interest</font><font style="font-size: 10pt;">s o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">shareholders</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">investors</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">administrators</font> <font style="font-size: 10pt;">and the</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We m</font><font style="font-size: 10pt;">onitor</font><font style="font-size: 10pt;"> the occurrence of any</font> <font style="font-size: 10pt;">conflicts of</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">tr</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">t </font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">he</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;"> with</font><font style="font-size: 10pt;"> obje</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">tivi</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">soundness</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">impar</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">iali</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">in line with </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policy</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">Conflict of</font> <font style="font-size: 10pt;">Interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Related-Party Transactions</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We follow the</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policy</font> <font style="font-size: 10pt;">Material </font><font style="font-size: 10pt;">Notice Disclosure Policy and Securities Trading Policy</font><font style="font-size: 10pt;">, which sets out rules for disclosure of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;"> the</font> <font style="font-size: 10pt;">market</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">procedure</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">to prevent the use of</font> <font style="font-size: 10pt;">information</font><font style="font-size: 10pt;"> no</font><font style="font-size: 10pt;">t disclosed to the</font> <font style="font-size: 10pt;">public </font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">r own</font> <font style="font-size: 10pt;">benefit</font> <font style="font-size: 10pt;">in the trading of securities</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font> <font style="font-size: 10pt;">appropriate</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">transparent</font><font style="font-size: 10pt;"> daily </font><font style="font-size: 10pt;">communication</font> <font style="font-size: 10pt;">practices</font><font style="font-size: 10pt;"> with </font><font style="font-size: 10pt;">analy</font><font style="font-size: 10pt;">sts, </font><font style="font-size: 10pt;">investors</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">other stakeholder</font><font style="font-size: 10pt;">s, </font><font style="font-size: 10pt;">seeking to keep them</font><font style="font-size: 10pt;"> inform</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">business</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">results.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">E</font><font style="font-size: 10pt;">MPLOYEES</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font> <font style="font-size: 10pt;">policies and practices</font> <font style="font-size: 10pt;">aimed at providing to</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font> <font style="font-size: 10pt;">dignified</font><font style="font-size: 10pt;">, healthy and motivating work conditions, free from embarrassment</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> t</font><font style="font-size: 10pt;">ype of prejudice</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">disc</font><font style="font-size: 10pt;">rimina</font><font style="font-size: 10pt;">tion. This conduct shall </font><font style="font-size: 10pt;">also</font> <font style="font-size: 10pt;">apply to the</font> <font style="font-size: 10pt;">public with which we relate</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We r</font><font style="font-size: 10pt;">espe</font><font style="font-size: 10pt;">ct the </font><font style="font-size: 10pt;">human</font><font style="font-size: 10pt;"> rights</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">promote a work environment of </font><font style="font-size: 10pt;">divers</font><font style="font-size: 10pt;">ity</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">inclusio</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we do not tolerate any type of </font><font style="font-size: 10pt;">pre</font><font style="font-size: 10pt;">judice</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">discrimina</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">either of race, gender, religion, age, marital status, </font><font style="font-size: 10pt;">sexual</font><font style="font-size: 10pt;"> orientation</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">place of birth, political conviction, </font><font style="font-size: 10pt;">social</font> <font style="font-size: 10pt;">class </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">handicap</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We promote</font> <font style="font-size: 10pt;">the</font><font style="font-size: 10pt;"> human</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">prof</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">ssional </font><font style="font-size: 10pt;">development of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">We encourage</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">promote</font> <font style="font-size: 10pt;">the individuals b</font><font style="font-size: 10pt;">as</font><font style="font-size: 10pt;">ed on their performance</font><font style="font-size: 10pt;">, qualifica</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">behavior in line with the</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">princ</font><font style="font-size: 10pt;">iple</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of the organization, pursuant t</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;"> criteria of assessment, requirements of the position</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">equal </font><font style="font-size: 10pt;">op</font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">ortuni</font><font style="font-size: 10pt;">ti</font><font style="font-size: 10pt;">es</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We respect</font> <font style="font-size: 10pt;">the right t</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;"> free union association </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">we </font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">omply with union conventions and collective agreements</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We respect</font> <font style="font-size: 10pt;">the freedom of </font><font style="font-size: 10pt;">associa</font><font style="font-size: 10pt;">tion with </font><font style="font-size: 10pt;">socia</font><font style="font-size: 10pt;">l and </font><font style="font-size: 10pt;">pol</font><font style="font-size: 10pt;">itical movements </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">with other </font><font style="font-size: 10pt;">entities</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">provided that</font> <font style="font-size: 10pt;">they do not conflict with their jobs</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">observe the current </font><font style="font-size: 10pt;">laws</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We encourage </font><font style="font-size: 10pt;">diversi</font><font style="font-size: 10pt;">ty in</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> re</font><font style="font-size: 10pt;">lationship</font><font style="font-size: 10pt;">s, </font><font style="font-size: 10pt;">act</font><font style="font-size: 10pt;">ively</font> <font style="font-size: 10pt;">promo</font><font style="font-size: 10pt;">ting the right to difference</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">contribu</font><font style="font-size: 10pt;">ting to an environment</font> <font style="font-size: 10pt;">where people may act in conformity with</font> <font style="font-size: 10pt;">their </font><font style="font-size: 10pt;">individua</font><font style="font-size: 10pt;">l value</font><font style="font-size: 10pt;">s, </font><font style="font-size: 10pt;">without prejudice to the values </font><font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt actions of prevention and fight </font><font style="font-size: 10pt;">against </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> t</font><font style="font-size: 10pt;">ype of di</font><font style="font-size: 10pt;">srespe</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t, </font><font style="font-size: 10pt;">harassment</font><font style="font-size: 10pt;">, o</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">fens</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">prejudice</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;">iscrimination</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we do not</font><font style="font-size: 10pt;"> tolera</font><font style="font-size: 10pt;">te this kind of actions</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">All the</font> <font style="font-size: 10pt;">employees</font> <font style="font-size: 10pt;">shoul</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> assume the</font><font style="font-size: 10pt;"> com</font><font style="font-size: 10pt;">mitment to prevent and avoid this kind of behavior</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">We encourage</font> <font style="font-size: 10pt;">employees to report these situations to the</font> <font style="font-size: 10pt;">Open Channel</font><font style="font-size: 10pt;"><font style="font-size: 10pt;">.&nbsp;</font></font></font></li>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>4</font></font></td>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Likewise, we do not tolerate</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n </font><font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">in</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">scope of operation, </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">we adopt</font> <font style="font-size: 10pt;">practices</font> <font style="font-size: 10pt;">to prevent</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">fight every </font><font style="font-size: 10pt;">form</font><font style="font-size: 10pt;"> of undignified </font><font style="font-size: 10pt;">labor</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">such as</font> <font style="font-size: 10pt;">forced labor, child labor, slavery or analogous to slavery</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We maintain an</font><font style="font-size: 10pt;"> exce</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;">lent image</font><font style="font-size: 10pt;"> of the</font> <font style="font-size: 10pt;">company</font> <font style="font-size: 10pt;">in the </font><font style="font-size: 10pt;">real</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">virtual</font><font style="font-size: 10pt;"> world</font><font style="font-size: 10pt;">. A</font><font style="font-size: 10pt;">ccordingly</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">all the</font> <font style="font-size: 10pt;">employees</font> <font style="font-size: 10pt;">should adopt a conduct that does not run counter the values </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">reputation</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">even outside the working hours</font> <font style="font-size: 10pt;">and/or</font> <font style="font-size: 10pt;">work </font><font style="font-size: 10pt;">environment</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">CUSTOMERS AND</font> <font style="font-size: 10pt;">CONSUMERS</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Our </font><font style="font-size: 10pt;">purpose</font><font style="font-size: 10pt;"> is to</font><font style="font-size: 10pt;"> identif</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">cover the needs</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">customers and consumers</font><font style="font-size: 10pt;">.</font></font></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font> <font style="font-size: 10pt;">practices</font><font style="font-size: 10pt;"> of</font><font style="font-size: 10pt;"> identifica</font><font style="font-size: 10pt;">tion of the needs</font><font style="font-size: 10pt;">, expectati</font><font style="font-size: 10pt;">on</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">opini</font><font style="font-size: 10pt;">on</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">customers and consumers</font> <font style="font-size: 10pt;">aiming at the improvement of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">product</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">services</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to maintain ethical</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> transparent,</font> <font style="font-size: 10pt;">integral</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">long-lasting relationships with </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">customers and consumers</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not adopt </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> marketing, publici</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">sales </font><font style="font-size: 10pt;">strategy that might</font><font style="font-size: 10pt;"> deceive </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">consumers</font><font style="font-size: 10pt;"> in relation to the</font><font style="font-size: 10pt;"> quali</font><font style="font-size: 10pt;">ty, purpose</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">pr</font><font style="font-size: 10pt;">ic</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">product</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">services</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The practice of illegal or unethical acts is not accepted</font><font style="font-size: 10pt;">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">EXTERNAL REPRESENTATIVES</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure that third parties that </font><font style="font-size: 10pt;">represent</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">act on behalf of</font><font style="font-size: 10pt;"> Ultra</font><font style="font-size: 10pt;"> Group</font> <font style="font-size: 10pt;">d</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;"> it respecting </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">values</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">Corporate</font> <font style="font-size: 10pt;">Policies and </font><font style="font-size: 10pt;">governance practices</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not use</font> <font style="font-size: 10pt;">external representatives</font> <font style="font-size: 10pt;">to dis</font><font style="font-size: 10pt;">simula</font><font style="font-size: 10pt;">te illegal or unethical</font> <font style="font-size: 10pt;">practices</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not hire </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">ma</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">nt</font><font style="font-size: 10pt;">ain</font><font style="font-size: 10pt;"> re</font><font style="font-size: 10pt;">lationship</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">with</font> <font style="font-size: 10pt;">external representatives</font> <font style="font-size: 10pt;">presenting </font><font style="font-size: 10pt;">conducts</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">behaviors that run counter to the principle</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">BUSINESS PARTNERS</font><font style="font-size: 10pt;"> (</font><font style="font-size: 10pt;">DISTRIBUTORS</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">RESELLERS AND</font> <font style="font-size: 10pt;">COMMERCIAL REPRESENTATIVES</font><font style="font-size: 10pt;">) </font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure in </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">partnership</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">the</font><font style="font-size: 10pt;"> continui</font><font style="font-size: 10pt;">ty of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">values</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">business</font><font style="font-size: 10pt;"> practices</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure that </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">partners</font> <font style="font-size: 10pt;">will follow the</font> <font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policies</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">reflecting on sustainabl</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> ba</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">is the way we carry out</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We did not start neither maintain </font><font style="font-size: 10pt;">relationship</font> <font style="font-size: 10pt;">with</font> <font style="font-size: 10pt;">partners</font> <font style="font-size: 10pt;">presenting </font><font style="font-size: 10pt;">conducts</font> <font style="font-size: 10pt;">or behaviors that run counter to the principles of this Code</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek in </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">partners</font><font style="font-size: 10pt;"> a </font><font style="font-size: 10pt;">good </font><font style="font-size: 10pt;">co</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">mercial</font><font style="font-size: 10pt;"> practice</font><font style="font-size: 10pt;">, integri</font><font style="font-size: 10pt;">ty in the</font> <font style="font-size: 10pt;">management</font><font style="font-size: 10pt;"> of</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">social and environmental commitment</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not </font><font style="font-size: 10pt;">inter</font><font style="font-size: 10pt;">fere </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">close deals that may affect the </font><font style="font-size: 10pt;">independ</font><font style="font-size: 10pt;">ence of </font><font style="font-size: 10pt;">distributors</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">resellers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">in compliance with the</font> <font style="font-size: 10pt;">guidelines</font> <font style="font-size: 10pt;">of the </font><font style="font-size: 10pt;">Corporate</font> <font style="font-size: 10pt;">Competition </font><font style="font-size: 10pt;">Policy</font><font style="font-size: 10pt;">.&nbsp;</font></font></li>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>5</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">S</font><font style="font-size: 10pt;">UPPLIERS AND SERVICE CONTRACTORS</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We s</font><font style="font-size: 10pt;">elec</font><font style="font-size: 10pt;">t</font> <font style="font-size: 10pt;">qualified </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font> <font style="font-size: 10pt;">which may properly meet the </font><font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The hiring of</font> <font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font> <font style="font-size: 10pt;">should consider solely the needs </font><font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">without </font><font style="font-size: 10pt;">conflict of</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We maintain selection</font> <font style="font-size: 10pt;">policies and practices</font> <font style="font-size: 10pt;">that </font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">nsure </font><font style="font-size: 10pt;">transparent, </font><font style="font-size: 10pt;">impe</font><font style="font-size: 10pt;">r</font><font style="font-size: 10pt;">so</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> technical</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">honest</font><font style="font-size: 10pt;"> and</font><font style="font-size: 10pt;"> fair</font> <font style="font-size: 10pt;">processes for all the ones involved and, therefore, without improper favoritism of a</font> <font style="font-size: 10pt;">supplier</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">service provider</font> <font style="font-size: 10pt;">to the </font><font style="font-size: 10pt;">detriment</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f others</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure that</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font> <font style="font-size: 10pt;">will follow the</font> <font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policies</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Our</font> <font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font> <font style="font-size: 10pt;">should carry out their</font> <font style="font-size: 10pt;">business</font> <font style="font-size: 10pt;">in conformity with</font> <font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">with applicable </font><font style="font-size: 10pt;">anticorruption</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">competition</font><font style="font-size: 10pt;"> and </font> <font style="font-size: 10pt;">environment</font><font style="font-size: 10pt;"> protection laws</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not tolerate</font> <font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> form</font><font style="font-size: 10pt;"> of undignified or forced labor, child labor, slavery or analogous to slavery in </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">supply chain, </font><font style="font-size: 10pt;">or </font> <font style="font-size: 10pt;">practices</font> <font style="font-size: 10pt;">that </font><font style="font-size: 10pt;">caus</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> environm</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">ntal damages.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">C</font><font style="font-size: 10pt;">OMPETITORS</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font><font style="font-size: 10pt;"> a </font><font style="font-size: 10pt;">Corporate Competition Policy</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">which sets out </font><font style="font-size: 10pt;">guidelines</font> <font style="font-size: 10pt;">to curb </font><font style="font-size: 10pt;">conducts</font> <font style="font-size: 10pt;">against the economic </font><font style="font-size: 10pt;">orde</font><font style="font-size: 10pt;">r in future </font><font style="font-size: 10pt;">co</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">mercia</font><font style="font-size: 10pt;">l practices</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">corporate </font><font style="font-size: 10pt;">relations</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">We are</font><font style="font-size: 10pt;"> com</font><font style="font-size: 10pt;">mitted to protecting </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">preserv</font><font style="font-size: 10pt;">ing </font><font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">that should govern the</font> <font style="font-size: 10pt;">market</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">like free initiative, free</font> <font style="font-size: 10pt;">competition</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">consumer defense, among other</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We respect our competitors</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not share</font> <font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">that might </font><font style="font-size: 10pt;">af</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> free</font> <font style="font-size: 10pt;">competition</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We c</font><font style="font-size: 10pt;">ompet</font><font style="font-size: 10pt;">e on ethical basis</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">observing the competition and antitrust </font><font style="font-size: 10pt;">legisla</font><font style="font-size: 10pt;">tion. We do not </font><font style="font-size: 10pt;">form</font><font style="font-size: 10pt;"> neither </font><font style="font-size: 10pt;">participa</font><font style="font-size: 10pt;">te in </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> t</font><font style="font-size: 10pt;">ype of</font><font style="font-size: 10pt;"> cartel.</font><font style="font-size: 10pt;"> We do not sign commercial agreements with</font> <font style="font-size: 10pt;">competitors</font> <font style="font-size: 10pt;">with the aim to </font><font style="font-size: 10pt;">combin</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> pr</font><font style="font-size: 10pt;">ic</font><font style="font-size: 10pt;">es, </font><font style="font-size: 10pt;">profit </font><font style="font-size: 10pt;">marg</font><font style="font-size: 10pt;">in</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">divid</font><font style="font-size: 10pt;">e</font> <font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">market</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">, or</font><font style="font-size: 10pt;"> to</font> <font style="font-size: 10pt;">r</font><font style="font-size: 10pt;">estrict </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">somehow </font><font style="font-size: 10pt;">impact</font> <font style="font-size: 10pt;">competition</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not accept that</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">professionals</font> <font style="font-size: 10pt;">get i</font><font style="font-size: 10pt;">nvolv</font><font style="font-size: 10pt;">ed in </font><font style="font-size: 10pt;">anti-competitive</font><font style="font-size: 10pt;"> practices</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">MEDIA</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We maintain a</font> <font style="font-size: 10pt;">relationship</font> <font style="font-size: 10pt;">with the media </font><font style="font-size: 10pt;">based</font> <font style="font-size: 10pt;">on </font><font style="font-size: 10pt;">impart</font><font style="font-size: 10pt;">iali</font><font style="font-size: 10pt;">ty</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">on tru</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">, clear, appropriate and timely</font> <font style="font-size: 10pt;">information</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Upon </font><font style="font-size: 10pt;">participa</font><font style="font-size: 10pt;">tion in </font><font style="font-size: 10pt;">virtua</font><font style="font-size: 10pt;">l commun</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">tie</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">discuss</font><font style="font-size: 10pt;">ion forums</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">we seek to follow the </font><font style="font-size: 10pt;">guidelines</font> <font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;">, ado</font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">ing </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">n ethical and i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;">tegral conduct. We </font><font style="font-size: 10pt;">do</font><font style="font-size: 10pt;"> not link the </font><font style="font-size: 10pt;">communications</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">personal </font><font style="font-size: 10pt;">opini</font><font style="font-size: 10pt;">on</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">made in such</font> <font style="font-size: 10pt;">environment</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> t</font><font style="font-size: 10pt;">o </font><font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">it</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">Business</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">S</font><font style="font-size: 10pt;">OCIAL NETWORKS</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not </font><font style="font-size: 10pt;">discus</font><font style="font-size: 10pt;">s restricted</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">confiden</font><font style="font-size: 10pt;">tial matters </font><font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">its</font> <font style="font-size: 10pt;">Business</font> <font style="font-size: 10pt;">in</font> <font style="font-size: 10pt;">social networks</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We encourage ethical, safe</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">legal</font><font style="font-size: 10pt;"> use of </font><font style="font-size: 10pt;">communication</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">intera</font><font style="font-size: 10pt;">ction technologies</font><font style="font-size: 10pt;">, inclu</font><font style="font-size: 10pt;">ding</font> <font style="font-size: 10pt;">social networks</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">We reject the use of</font> <font style="font-size: 10pt;">social networks</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">by</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">to make offenses and perpetrate illegal and unethical acts</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">or acts that run counter to the</font> <font style="font-size: 10pt;">conducts</font> <font style="font-size: 10pt;">established in this</font> <font style="font-size: 10pt;">Code of Ethics</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">We a</font><font style="font-size: 10pt;">lso</font> <font style="font-size: 10pt;">recom</font><font style="font-size: 10pt;">m</font><font style="font-size: 10pt;">end</font><font style="font-size: 10pt;"> discretion </font><font style="font-size: 10pt;">and</font><font style="font-size: 10pt;"> good judgment in </font><font style="font-size: 10pt;">social networks</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">always </font><font style="font-size: 10pt;">intera</font><font style="font-size: 10pt;">cting with others on a </font><font style="font-size: 10pt;">legal</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">respe</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">ful way</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
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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'>6</font></font></td>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><img src="img44bd21e72d4e4993aa4c.jpg" alt="Graphics"></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We strengthen the use of caution when posting on </font><font style="font-size: 10pt;">social networks</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">the prohibition of</font> <font style="font-size: 10pt;">disclosing </font><font style="font-size: 10pt;">unauthorized mess</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">ges or images about</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">A posting may be </font><font style="font-size: 10pt;">inadequa</font><font style="font-size: 10pt;">te</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">give rise to mis</font><font style="font-size: 10pt;">interpreta</font><font style="font-size: 10pt;">tion, i</font><font style="font-size: 10pt;">nvolv</font><font style="font-size: 10pt;">ing</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> brands</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">reputation</font><font style="font-size: 10pt;">, a</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">fe</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">ing the value </font><font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We care for sensitive</font> <font style="font-size: 10pt;">personal data</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">,</font> <font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">competitors</font><font style="font-size: 10pt;">, prote</font><font style="font-size: 10pt;">cting their</font><font style="font-size: 10pt;"> privac</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we do not make verbal or written </font><font style="font-size: 10pt;">declara</font><font style="font-size: 10pt;">tions that might affect their</font><font style="font-size: 10pt;"> image</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">contribu</font><font style="font-size: 10pt;">te to the</font><font style="font-size: 10pt;"> di</font><font style="font-size: 10pt;">ssemination of rumors involving them, who should always be treated with respect</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">R</font><font style="font-size: 10pt;">ELATION WITH THE GOVERNMENT</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We adopt</font><font style="font-size: 10pt;"> corporat</font><font style="font-size: 10pt;">e policies and practices</font> <font style="font-size: 10pt;">to ensure that</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">relations</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">partnership</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">business</font> <font style="font-size: 10pt;">with public bodies</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">companies</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">representatives</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">at all levels, are based on honesty</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">transparency and responsibility</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">W</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> manage</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">business</font> <font style="font-size: 10pt;">without ideological</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">olitical influence</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we promote</font> <font style="font-size: 10pt;">an</font> <font style="font-size: 10pt;">environment</font> <font style="font-size: 10pt;">free from</font><font style="font-size: 10pt;"> irregulari</font><font style="font-size: 10pt;">ti</font><font style="font-size: 10pt;">es</font><font style="font-size: 10pt;">.</font></font>&nbsp;</li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not offer or yield to </font><font style="font-size: 10pt;">improper </font><font style="font-size: 10pt;">requests </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">advantage</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">nature</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">The rules for</font> <font style="font-size: 10pt;">relationship</font> <font style="font-size: 10pt;">with the Public Power are</font><font style="font-size: 10pt;"> descri</font><font style="font-size: 10pt;">bed in </font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">he</font> <font style="font-size: 10pt;">Corporate Anticorruption Policy and Relationship with the Public and Private Sector</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">CLASS ENTITIES AND ASSOCIATIONS</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We recognize the</font><font style="font-size: 10pt;"> import</font><font style="font-size: 10pt;">ance of the role of the</font> <font style="font-size: 10pt;">entities</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">trade </font><font style="font-size: 10pt;">associa</font><font style="font-size: 10pt;">tions in the</font><font style="font-size: 10pt;"> econom</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">promo</font><font style="font-size: 10pt;">tion of discussion</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> the</font><font style="font-size: 10pt;"> respectiv</font><font style="font-size: 10pt;">e </font><font style="font-size: 10pt;">se</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">tors </font><font style="font-size: 10pt;">of</font><font style="font-size: 10pt;"> representa</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We respect</font><font style="font-size: 10pt;"> the</font><font style="font-size: 10pt;"> autonom</font><font style="font-size: 10pt;">y of the</font> <font style="font-size: 10pt;">entities</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">trade </font><font style="font-size: 10pt;">associa</font><font style="font-size: 10pt;">tions</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we support their initiatives, always in compliance with the </font><font style="font-size: 10pt;">lega</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">regulat</font><font style="font-size: 10pt;">ory principles </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policies</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">WORK ENVIRONMENT </font><font style="font-size: 10pt;">ETHICS</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;">PROFESSIONAL EXCELLENCE</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We perform </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">work with </font><font style="font-size: 10pt;">dedica</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">responsibility</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">We always seek to do our best</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We </font><font style="font-size: 10pt;">have </font><font style="font-size: 10pt;">respect</font> <font style="font-size: 10pt;">for </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">ll people, without</font> <font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">type of</font><font style="font-size: 10pt;"> d</font><font style="font-size: 10pt;">iscrimination</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">prejudice</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We learn from </font><font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> mistakes</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">try our best not to </font><font style="font-size: 10pt;">repe</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> them. We accept cr</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">ticism </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">try to learn from it</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We give reasoned</font><font style="font-size: 10pt;">, respectful and professional </font><font style="font-size: 10pt;">opini</font><font style="font-size: 10pt;">on</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">cr</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">tic</font><font style="font-size: 10pt;">ism</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">in the </font><font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We care for tangible and intangible resources, </font><font style="font-size: 10pt;">inte</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;">lectual</font> <font style="font-size: 10pt;">property </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">premises</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"><font style="font-size: 10pt;">.</font></font></font></li>
</ul>
</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'>7</font></font></td>
</tr>

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<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><img src="img44bd21e72d4e4993aa4c.jpg" alt="Graphics"></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: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">CONFLICTS OF INTEREST</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We follow the</font> <font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policy</font> <font style="font-size: 10pt;">for</font> <font style="font-size: 10pt;">Conflict of</font> <font style="font-size: 10pt;">Interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Related</font> <font style="font-size: 10pt;">Party Transactions</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">which</font><font style="font-size: 10pt;"> promo</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">transparency</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">independ</font><font style="font-size: 10pt;">ence in the</font> <font style="font-size: 10pt;">relations</font><font style="font-size: 10pt;">hips</font> <font style="font-size: 10pt;">betwe</font><font style="font-size: 10pt;">en </font><font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">its</font> <font style="font-size: 10pt;">related parties</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We avoid situations</font> <font style="font-size: 10pt;">that</font><font style="font-size: 10pt;"> represent</font><font style="font-size: 10pt;"> actual or apparent </font><font style="font-size: 10pt;">confli</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">ts</font><font style="font-size: 10pt;"> between personal</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, a</font><font style="font-size: 10pt;">cting on impartial, ethical </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">honest</font><font style="font-size: 10pt;"> b</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">sis</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">condu</font><font style="font-size: 10pt;">cting </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">professional </font><font style="font-size: 10pt;">activities</font> <font style="font-size: 10pt;">in </font><font style="font-size: 10pt;">benefit</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">Business</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure that no</font> <font style="font-size: 10pt;">improper advantage</font> <font style="font-size: 10pt;">is directly or indirectly provided to</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">to individuals from their family </font><font style="font-size: 10pt;">relations</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We seek to ensure that</font> <font style="font-size: 10pt;">related</font> <font style="font-size: 10pt;">part</font><font style="font-size: 10pt;">y</font> <font style="font-size: 10pt;">transactions will be carried out on equitable basis, without </font><font style="font-size: 10pt;">participa</font><font style="font-size: 10pt;">tion of the ones involved in the internal decision-making</font><font style="font-size: 10pt;"> process</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">UNDUE</font><font style="font-size: 10pt;"> ADVANTAGES OR BENEFITS</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We follow the</font> <font style="font-size: 10pt;">Corporate Anticorruption Policy and Relationship with the Public and Private Sector</font> <font style="font-size: 10pt;">and</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">accordingly</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">we do not tolerate</font> <font style="font-size: 10pt;">that </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">hird parties perpetrate acts of corruption with public or private</font> <font style="font-size: 10pt;">agents</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We never promise, receive, request or accept</font> <font style="font-size: 10pt;">improper </font><font style="font-size: 10pt;">advantages or benefits</font> <font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">either in the public or private </font><font style="font-size: 10pt;">se</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">tor</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do n</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">t use confidential or insider</font> <font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">to obtain undue profit, for own</font> <font style="font-size: 10pt;">benefit</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">or for benefit of third parties</font><font style="font-size: 10pt;"> or</font> <font style="font-size: 10pt;">external representatives</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not ask neither accept, for own </font><font style="font-size: 10pt;">benefit</font> <font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">b</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">nefit of third parties</font><font style="font-size: 10pt;">, pa</font><font style="font-size: 10pt;">yment</font><font style="font-size: 10pt;">s, incentiv</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">s, financ</font><font style="font-size: 10pt;">ial </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">no</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">undue </font><font style="font-size: 10pt;">benefits</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">nature</font> <font style="font-size: 10pt;">from</font> <font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">business partners</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">service providers</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">third parties to perform their</font> <font style="font-size: 10pt;">activities</font> <font style="font-size: 10pt;">at</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not request jobs</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">benefits</font> <font style="font-size: 10pt;">for relative</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">friends in </font><font style="font-size: 10pt;">companies</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">external representatives</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">business partners</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">service providers</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PROTECTION OF THE COMPANY&#8217;S ASSETS AND RESOURCES</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We care for the</font> <font style="font-size: 10pt;">integrity of goods</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">sse</font><font style="font-size: 10pt;">ts</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">or</font><font style="font-size: 10pt;"> their responsible use, in order to prevent damages</font><font style="font-size: 10pt;">, misuse</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">waste of resources</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font> <font style="font-size: 10pt;">mis</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">ppropriation of goods and assets</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Good</font><font style="font-size: 10pt;">s, </font><font style="font-size: 10pt;">equipment</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">premises of the</font> <font style="font-size: 10pt;">companies</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font> <font style="font-size: 10pt;">are </font><font style="font-size: 10pt;">destin</font><font style="font-size: 10pt;">ed solely for the performance of</font> <font style="font-size: 10pt;">its</font> <font style="font-size: 10pt;">business</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">W</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;"> care for the</font> <font style="font-size: 10pt;">equipment</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">proper use of the assets </font><font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">inclu</font><font style="font-size: 10pt;">ding the ones provided </font><font style="font-size: 10pt;">for the performance of functions by the</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We use corporate</font> <font style="font-size: 10pt;">equipment</font> <font style="font-size: 10pt;">for private affairs</font> <font style="font-size: 10pt;">on</font><font style="font-size: 10pt;"> modera</font><font style="font-size: 10pt;">te basis, not affecting the </font><font style="font-size: 10pt;">produ</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">tivi</font><font style="font-size: 10pt;">ty of the work, data security</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">provided that</font> <font style="font-size: 10pt;">using common sense, within the legal boundaries, in compliance with ethical and moral </font><font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Mobile devices</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> e-mails, </font><font style="font-size: 10pt;">corporate </font><font style="font-size: 10pt;">programs</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">systems</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font> <font style="font-size: 10pt;">the c</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">ntent contained or transited in the</font> <font style="font-size: 10pt;">equipment</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">corporat</font><font style="font-size: 10pt;">e networks are the property of</font><font style="font-size: 10pt;"> Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">may be</font><font style="font-size: 10pt;"> monitor</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> at its sole discreti</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"><font style="font-size: 10pt;">.</font></font></font></li>
</ul>
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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'>8</font></font></td>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><img src="img44bd21e72d4e4993aa4c.jpg" alt="Graphics"></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Under no circumstance</font><font style="font-size: 10pt;"> do we share personal passwords of access t</font><font style="font-size: 10pt;">o</font> <font style="font-size: 10pt;">equipment</font> <font style="font-size: 10pt;">and/or</font> <font style="font-size: 10pt;">systems</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">All files </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">created, received, </font><font style="font-size: 10pt;">transit</font><font style="font-size: 10pt;">ed</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">iled in the electronic </font><font style="font-size: 10pt;">systems</font> <font style="font-size: 10pt;">of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">in its corporate</font> <font style="font-size: 10pt;">equipment</font> <font style="font-size: 10pt;">are the property of </font><font style="font-size: 10pt;">Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">should be</font> <font style="font-size: 10pt;">classifi</font><font style="font-size: 10pt;">ed </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">tr</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">at</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> acc</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">rding to applicable </font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">tandards. Management</font><font style="font-size: 10pt;"> processes</font><font style="font-size: 10pt;">, proje</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">ts</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">product</font><font style="font-size: 10pt;"> formulas</font> <font style="font-size: 10pt;">are </font><font style="font-size: 10pt;">inte</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;">lectua</font><font style="font-size: 10pt;">l propertie</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">should be</font><font style="font-size: 10pt;"> tr</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">at</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> as</font><font style="font-size: 10pt;"> confiden</font><font style="font-size: 10pt;">tial, and cannot be shared without</font><font style="font-size: 10pt;"> formal</font><font style="font-size: 10pt;"> authorization</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">INFORMATION SECURITY AND DATA PROTECTION</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We </font><font style="font-size: 10pt;">comply with </font><font style="font-size: 10pt;">Brazilian </font><font style="font-size: 10pt;">laws</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">standards on</font><font style="font-size: 10pt;"> privac</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">personal data</font><font style="font-size: 10pt;"> protection</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">including</font> <font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">General </font><font style="font-size: 10pt;">Law</font> <font style="font-size: 10pt;">on </font><font style="font-size: 10pt;">Personal Data</font> <font style="font-size: 10pt;">Protection </font><font style="font-size: 10pt;">&#8211; LGPD.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Due to the</font> <font style="font-size: 10pt;">activities</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;"> have access to a series of confidential </font><font style="font-size: 10pt;">information</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">documents</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">physical </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">ele</font><font style="font-size: 10pt;">ctronic. All </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">information</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">including</font> <font style="font-size: 10pt;">personal data</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">sensitive </font><font style="font-size: 10pt;">personal data</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">nd </font><font style="font-size: 10pt;">documents</font><font style="font-size: 10pt;"> rela</font><font style="font-size: 10pt;">ted to the a</font><font style="font-size: 10pt;">ctivities</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">it</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">poten</font><font style="font-size: 10pt;">tial</font> <font style="font-size: 10pt;">customers</font> <font style="font-size: 10pt;">should be</font><font style="font-size: 10pt;"> tr</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">at</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> on</font><font style="font-size: 10pt;"> confiden</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">ial</font><font style="font-size: 10pt;"> basis</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We protect every</font> <font style="font-size: 10pt;">information</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">document</font><font style="font-size: 10pt;"> to which we have access</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">we do not disclose them to</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">third parties who do not need that</font> <font style="font-size: 10pt;">information</font> <font style="font-size: 10pt;">to perform their work</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">It is everyone&#8217;s duty to prevent unauthorized access to </font><font style="font-size: 10pt;">information</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font> <font style="font-size: 10pt;">accidental or illegal </font><font style="font-size: 10pt;">situations</font> <font style="font-size: 10pt;">of </font><font style="font-size: 10pt;">destru</font><font style="font-size: 10pt;">ction</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">loss or change of</font> <font style="font-size: 10pt;">information</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We follow the </font><font style="font-size: 10pt;">Corporate</font><font style="font-size: 10pt;"> Policy</font> <font style="font-size: 10pt;">of</font><font style="font-size: 10pt;"> Privac</font><font style="font-size: 10pt;">y</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Personal Data</font> <font style="font-size: 10pt;">Protection which </font><font style="font-size: 10pt;">implement</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">direc</font><font style="font-size: 10pt;">ts to good</font> <font style="font-size: 10pt;">practices</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">ensures proper</font><font style="font-size: 10pt;"> tr</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">atment</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">personal data</font> <font style="font-size: 10pt;">by everyone</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We respect</font> <font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">data </font><font style="font-size: 10pt;">privac</font><font style="font-size: 10pt;">y of</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">employees</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">customers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">business </font><font style="font-size: 10pt;">partners</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">suppliers</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">service providers</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font> <font style="font-size: 10pt;">their right</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">over their data</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We are</font> <font style="font-size: 10pt;">aware that the</font> <font style="font-size: 10pt;">mail received or sent through </font><font style="font-size: 10pt;">equipment</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">systems</font><font style="font-size: 10pt;"> is the property of</font> <font style="font-size: 10pt;">Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">Accordingly,</font> <font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;"> reserv</font><font style="font-size: 10pt;">es the right to</font><font style="font-size: 10pt;"> inspec</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">monitor</font><font style="font-size: 10pt;"> the use of </font><font style="font-size: 10pt;">information</font><font style="font-size: 10pt;"> systems</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">as well as</font><font style="font-size: 10pt;"> a</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">cess </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">file</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">document</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">mes</font><font style="font-size: 10pt;">sage</font><font style="font-size: 10pt;"> that is filed</font> <font style="font-size: 10pt;">and/or</font><font style="font-size: 10pt;"> process</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> in</font> <font style="font-size: 10pt;">our</font> <font style="font-size: 10pt;">technology </font><font style="font-size: 10pt;">environment</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">GIFTS, ENTERTAINMENT AND HOSPITALITY</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 style="font-size: 10pt;">In</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> commercial</font> <font style="font-size: 10pt;">relations</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">we avoid </font><font style="font-size: 10pt;">situations</font> <font style="font-size: 10pt;">of actual or </font><font style="font-size: 10pt;">potential</font> <font style="font-size: 10pt;">conflicts of</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">. Accordingly, we do not accept any gift</font><font style="font-size: 10pt;">, present, ent</font><font style="font-size: 10pt;">ertainment </font><font style="font-size: 10pt;">or </font><font style="font-size: 10pt;">hospitali</font><font style="font-size: 10pt;">ty with the purpose to obtain </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">type of</font> <font style="font-size: 10pt;">improper advantage</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">In addition</font><font style="font-size: 10pt;">:</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not accept</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">of</font><font style="font-size: 10pt;">f</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">r gifts</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">presents </font><font style="font-size: 10pt;">in kind</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">the </font><font style="font-size: 10pt;">equivalent</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We do not accept</font> <font style="font-size: 10pt;">invitation</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">ticket</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">, exce</font><font style="font-size: 10pt;">p</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;"> f</font><font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">r</font><font style="font-size: 10pt;"> institu</font><font style="font-size: 10pt;">t</font><font style="font-size: 10pt;">iona</font><font style="font-size: 10pt;">l</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">sponsored events</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">of collective nature</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">with prior</font><font style="font-size: 10pt;"> consulta</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">f</font> <font style="font-size: 10pt;">the immediate </font><font style="font-size: 10pt;">superior</font><font style="font-size: 10pt;">, who has the</font> <font style="font-size: 10pt;">responsibility</font> <font style="font-size: 10pt;">to assess the </font><font style="font-size: 10pt;">exist</font><font style="font-size: 10pt;">ence of a possible</font> <font style="font-size: 10pt;">conflict of</font> <font style="font-size: 10pt;">interest</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">In case of doubt</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">please contact </font><font style="font-size: 10pt;">Ultra&#8217;s</font> <font style="font-size: 10pt;">Integrity</font> <font style="font-size: 10pt;">area</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">the </font><font style="font-size: 10pt;">Open Channel</font><font style="font-size: 10pt;">.</font></font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">We comply with all legal provisions on the theme</font><font style="font-size: 10pt;">.</font></font></li>
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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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<p style="margin: 0pt;"><img src="img44bd21e72d4e4993aa4c.jpg" alt="Graphics"></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PERSONAL RELATIONSHIP WITH CUSTOMERS, EXTERNAL REPRESENTATIVES, BUSINESS PARTNERS, SUPPLIERS AND SERVICE PROVIDERS</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We do not engage in private deals with customers, external representatives, business partners, suppliers or service providers, except for daily consumption relations, provided that there is formal communication to the immediate superior and the Integrity area&#8217;s opinion.&nbsp;</font></li>
</ul>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 9.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We do not request from customers, external representatives, business partners, suppliers or service providers any favors, rewards or incentives of any nature in order to generate personal benefits, for us or for external representatives.</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">MANAGEMENT OF THE CODE OF ETHICS</font></p>
<p style="margin: 0pt; text-align: justify;"><br><font style="font-family: 'times new roman', times; font-size: 10pt;">CONDUCT COMMITTEE</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 Conduct Committee is a body related to the Board of Directors of Ultrapar, which consists of an independent and external President, and Executives of Ultra Group, including the Risk, Integrity and Audit Director (&#8220;DRIA&#8221;). This body, operationally supported by the DRIA, meets periodically with the following purposes, according to the internal regulation: </font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">manage the application of the Code of Ethics, its guidelines and related policies</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">supervise the application and effectiveness of the Code of Ethics principles</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">review and approve the Integrity Program and supervise its application, in order to ensure compliance</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">propose and evaluate new policies associated with the Code of Ethics, as well as propose changes to it and the policies currently in force associated with it</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> follow up investigations promoted by the DRIA</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">recommend the appropriate disciplinary, administrative or judicial measures, related to a subject within its authority, to be adopted by Ultra Group&#8217;s bodies, as well as resolve on the need to report the matter to the Risk and Audit Committee or the Board of Directors of the Ultra Group for additional measures that may be applicable</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">formally report the Committee&#8217;s resolutions to the Board of Directors in the most relevant cases</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">forward to the Risk and Audit Committee and the Board of Directors annual reports describing their activities and those of the Integrity Program, without prejudice to extraordinary reports, whenever necessary</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 107%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">answer questions about the application or interpretation of the Code of Ethics provisions, the policies adopted by Ultra Group and, in the areas of its authority, the law and the Regulation</font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">RISK, INTEGRITY AND AUDIT DEPARTMENT</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="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The DRIA is responsible for the following:</font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Propose and review policies related to the Program, as well as coordinate their recommendation by the Conduct Committee and respective approval by the Board of Directors</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Guide and develop training topics for the Program</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Develop the Program&#8217;s corporate communication</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Manage the Open Channel</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Conduct and/or oversee the internal investigations at Ultra Group</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Support and recommend deliberations of consequences</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Monitor the Program in all the Businesses of Ultra Group</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Represent Ultra Group institutionally in the Compliance theme</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 150%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Follow up the development of the activities of the Integrity areas of the Businesses</font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Propose improvement of the Program</font></li>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>10</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">BUSINESS </font><font style="font-size: 10pt;">INTEGRITY </font><font style="font-size: 10pt;">AREA</font><font style="font-size: 10pt;">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 style="font-size: 10pt;">Business </font><font style="font-size: 10pt;">Integrity</font> <font style="font-size: 10pt;">Areas are responsible for</font><font style="font-size: 10pt;">:</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Ensure the compliance with the</font><font style="font-size: 10pt;"> guidelines o</font><font style="font-size: 10pt;">f the</font><font style="font-size: 10pt;"> Program </font><font style="font-size: 10pt;">in the</font> <font style="font-size: 10pt;">respective </font><font style="font-size: 10pt;">Business</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Implement</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">monitor</font><font style="font-size: 10pt;"> the adherence to this</font> <font style="font-size: 10pt;">Code</font> <font style="font-size: 10pt;">in the</font><font style="font-size: 10pt;"> Business</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Plan, </font><font style="font-size: 10pt;">develop</font><font style="font-size: 10pt;">, implement</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">execut</font><font style="font-size: 10pt;">e the</font><font style="font-size: 10pt;"> Program</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">it</font><font style="font-size: 10pt;">s controls </font><font style="font-size: 10pt;">in line with th</font><font style="font-size: 10pt;">e guidelines</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> and</font><font style="font-size: 10pt;"> the</font><font style="font-size: 10pt;"> risks </font><font style="font-size: 10pt;">of its</font><font style="font-size: 10pt;"> Business</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Ap</font><font style="font-size: 10pt;">ply and control the</font><font style="font-size: 10pt;"> training </font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Disclose the</font><font style="font-size: 10pt;"> Program </font><font style="font-size: 10pt;">in the</font><font style="font-size: 10pt;"> Business</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Ensure the conduction of </font><font style="font-size: 10pt;">Reputa</font><font style="font-size: 10pt;">tional Surveys according to this</font> <font style="font-size: 10pt;">Corporate Anticorruption Policy</font><font style="font-size: 10pt;"> and Relationship with the Public and Private Officers</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">A</font><font style="font-size: 10pt;">ssist the</font><font style="font-size: 10pt;"> Board of Executive Officers</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f the</font><font style="font-size: 10pt;"> Business </font><font style="font-size: 10pt;">with</font> <font style="font-size: 10pt;">relevant </font><font style="font-size: 10pt;">Compliance </font><font style="font-size: 10pt;">aspects for decision making</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Evaluate the </font><font style="font-size: 10pt;">Program </font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> the</font><font style="font-size: 10pt;"> Business</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Condu</font><font style="font-size: 10pt;">ct </font><font style="font-size: 10pt;">interna</font><font style="font-size: 10pt;">l investigation</font><font style="font-size: 10pt;">s </font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> the</font><font style="font-size: 10pt;"> Business, </font><font style="font-size: 10pt;">as requested by</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">in</font><font style="font-size: 10pt;"> coord</font><font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">na</font><font style="font-size: 10pt;">tion with the</font><font style="font-size: 10pt;"> DR</font><font style="font-size: 10pt;">I</font><font style="font-size: 10pt;">A</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Periodically r</font><font style="font-size: 10pt;">eport</font><font style="font-size: 10pt;"> to the</font><font style="font-size: 10pt;"> DR</font><font style="font-size: 10pt;">I</font><font style="font-size: 10pt;">A </font><font style="font-size: 10pt;">the</font><font style="font-size: 10pt;"> evolu</font><font style="font-size: 10pt;">tion of the</font><font style="font-size: 10pt;"> Program </font><font style="font-size: 10pt;">in the</font><font style="font-size: 10pt;"> Business</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">OPEN CHANNEL</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="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Our</font><font style="font-size: 10pt;"> Open Channel </font><font style="font-size: 10pt;">is available to</font><font style="font-size: 10pt;"> any external or internal perso</font><font style="font-size: 10pt;">n</font> <font style="font-size: 10pt;">to</font><font style="font-size: 10pt;"> clarify questions or report suspected violations of this Policy, as well as the Code of Ethics, other policies and internal rules, and the applicable legislation</font><font style="font-size: 10pt;">.</font></font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Telephone</font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0800 701 7172</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Webs</font><font style="font-size: 10pt;">ite</font></font></p>
<p style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">www.canalabertoultra.com.br</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">Complaints or requests for guidance can be made anonymously, in order to protect the identity of the person who submitted them</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">It is forbidden to conduct </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> a</font><font style="font-size: 10pt;">c</font><font style="font-size: 10pt;">t</font> <font style="font-size: 10pt;">o</font><font style="font-size: 10pt;">f threat</font><font style="font-size: 10pt;">, intimida</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">retalia</font><font style="font-size: 10pt;">tion to </font><font style="font-size: 10pt;">any</font> <font style="font-size: 10pt;">person who</font><font style="font-size: 10pt;">:</font></font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">i. </font><font style="font-size: 10pt;">r</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">ports</font><font style="font-size: 10pt;"> viola</font><font style="font-size: 10pt;">tion</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of this</font> <font style="font-size: 10pt;">Code</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">of </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> o</font><font style="font-size: 10pt;">ther</font> <font style="font-size: 10pt;">policy</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">interna</font><font style="font-size: 10pt;">l regulation</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">legislation</font> <font style="font-size: 10pt;">applicable t</font><font style="font-size: 10pt;">o </font><font style="font-size: 10pt;">Ultra Group</font><font style="font-size: 10pt;">,</font> <font style="font-size: 10pt;">and/or</font></font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">ii. </font><font style="font-size: 10pt;">reports doubts, suspicions</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">concerns </font><font style="font-size: 10pt;">in relation to</font> <font style="font-size: 10pt;">this m</font><font style="font-size: 10pt;">a</font><font style="font-size: 10pt;">tter</font></font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The</font> <font style="font-size: 10pt;">Channel</font> <font style="font-size: 10pt;">is</font><font style="font-size: 10pt;"> opera</font><font style="font-size: 10pt;">te</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> by</font><font style="font-size: 10pt;"> independent</font><font style="font-size: 10pt;"> company</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">all reports are checked with </font><font style="font-size: 10pt;">independence </font><font style="font-size: 10pt;">and </font><font style="font-size: 10pt;">dilig</font><font style="font-size: 10pt;">ence</font><font style="font-size: 10pt;">. </font></font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">It is every </font><font style="font-size: 10pt;">employee</font><font style="font-size: 10pt;">s&#8217;</font> <font style="font-size: 10pt;">duty to immediately inform </font><font style="font-size: 10pt;">any</font><font style="font-size: 10pt;"> susp</font><font style="font-size: 10pt;">icion of</font><font style="font-size: 10pt;"> viola</font><font style="font-size: 10pt;">tion of this</font> <font style="font-size: 10pt;">Policy</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">any other </font><font style="font-size: 10pt;">policies</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">procedure</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">applicable </font><font style="font-size: 10pt;">laws</font> <font style="font-size: 10pt;">through the</font> <font style="font-size: 10pt;">Open Channel</font><font style="font-size: 10pt;">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: Arial; 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'>11</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">VIOLATION OF THE CODE OF ETHICS</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 style="font-size: 10pt;">All the </font><font style="font-size: 10pt;">professionals</font><font style="font-size: 10pt;"> of Ultra</font><font style="font-size: 10pt;"> Group</font> <font style="font-size: 10pt;">shoul</font><font style="font-size: 10pt;">d</font><font style="font-size: 10pt;"> adhere to this</font> <font style="font-size: 10pt;">Code of Ethics and </font><font style="font-size: 10pt;">to the</font> <font style="font-size: 10pt;">respective </font><font style="font-size: 10pt;">guidelines</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Policies</font><font style="font-size: 10pt;">, inclu</font><font style="font-size: 10pt;">ding the</font><font style="font-size: 10pt;"> re</font><font style="font-size: 10pt;">port of any</font><font style="font-size: 10pt;"> viola</font><font style="font-size: 10pt;">tions in the work </font><font style="font-size: 10pt;">environment</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">Any</font><font style="font-size: 10pt;"> prof</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">ssional </font><font style="font-size: 10pt;">who</font><font style="font-size: 10pt;"> viol</font><font style="font-size: 10pt;">at</font><font style="font-size: 10pt;">es </font><font style="font-size: 10pt;">the provisions </font><font style="font-size: 10pt;">of this</font> <font style="font-size: 10pt;">Code of Ethics and </font><font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">respective </font><font style="font-size: 10pt;">guidelines</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">Policies</font> <font style="font-size: 10pt;">i</font><font style="font-size: 10pt;">n</font><font style="font-size: 10pt;"> this</font> <font style="font-size: 10pt;">document</font><font style="font-size: 10pt;">,</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">the</font> <font style="font-size: 10pt;">principle</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">standards of</font> <font style="font-size: 10pt;">conduct</font> <font style="font-size: 10pt;">adopted by them</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">is</font><font style="font-size: 10pt;"> su</font><font style="font-size: 10pt;">bject to </font><font style="font-size: 10pt;">disciplinar</font><font style="font-size: 10pt;">y m</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">asure</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;"> such </font><font style="font-size: 10pt;">as:</font></font></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">W</font><font style="font-size: 10pt;">arnings</font></font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Suspension</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sanctions, including financial penalty</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dismissal</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Applicable legal measures</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IN CASE OF DOUBT</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 style="font-size: 10pt;">This</font> <font style="font-size: 10pt;">Code</font> <font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">eks to </font><font style="font-size: 10pt;">estab</font><font style="font-size: 10pt;">lish the general</font> <font style="font-size: 10pt;">guidelines</font> <font style="font-size: 10pt;">on the</font> <font style="font-size: 10pt;">values</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">expected</font> <font style="font-size: 10pt;">behavior</font><font style="font-size: 10pt;">s</font> <font style="font-size: 10pt;">of</font> <font style="font-size: 10pt;">our</font><font style="font-size: 10pt;"> p</font><font style="font-size: 10pt;">u</font><font style="font-size: 10pt;">blic</font><font style="font-size: 10pt;">. </font><font style="font-size: 10pt;">In case of doubt</font><font style="font-size: 10pt;">, </font><font style="font-size: 10pt;">please contact Ultra&#8217;s</font> <font style="font-size: 10pt;">Integrity</font><font style="font-size: 10pt;"> area</font><font style="font-size: 10pt;"> or </font><font style="font-size: 10pt;">the </font><font style="font-size: 10pt;">Open Channel</font><font style="font-size: 10pt;">.</font> <font style="font-size: 10pt;">The adoption of the</font> <font style="font-size: 10pt;">Code of Ethics</font> <font style="font-size: 10pt;">does </font><font style="font-size: 10pt;">no</font><font style="font-size: 10pt;">t </font><font style="font-size: 10pt;">e</font><font style="font-size: 10pt;">xhau</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">t the ethical themes</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">expected </font><font style="font-size: 10pt;">behavior</font><font style="font-size: 10pt;">s</font><font style="font-size: 10pt;">.&nbsp;</font></font></p>
</div>
<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 class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>12</font></font></td>
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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.</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Date: March 29, 2023&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 9pt; line-height: 115%; margin: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic;">(Minutes of the Meeting of the Board of Directors of Ultrapar Participa&#231;&#245;es S.A., held on March 29, 2023 and Code of Ethics)&nbsp;</font></font></p>
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