Accounting policy

Property, plant and equipment items are measured at acquisition or construction cost, which also includes costs directly attributable to bringing the asset to operating conditions, including borrowing costs on qualifying assets and non-recoverable taxes, as well as, when applicable, the estimated costs of dismantling and removing property, plant and equipment and restoring the site where the asset is located, less accumulated depreciation and impairment losses. The borrowing costs related to funds raised for construction in progress shall be capitalized until the completion of these projects.

Depreciation is calculated using the straight-line method, taking into consideration the estimated useful lives of the assets, which are reviewed annually. Leasehold improvements are depreciated over the shorter of the contract term and the useful life of the asset.

	Weighted average useful life (years)	Balance as of 12/31/2023		Additions		Depreciation		Transfers (i)		Write-offs		Acquisition of subsidiaries (ii)		Balance as of 12/31/2024
Cost:
Land	-	607,152		12,968		‐		5,073		(15,569	)	-		609,624
Buildings	31	1,646,996		8,904		‐		149,065		(61,770	)	1,902		1,745,097
Leasehold improvements	15	1,292,998		37,867		‐		99,777		(15,300	)	-		1,415,342
Machinery and equipment	11	3,530,184		143,782		‐		99,603		(16,382	)	1,183		3,758,370
Automotive fuel/lubricant distribution equipment and facilities	14	3,361,637		80,317		‐		70,966		(327,319	)	13,825		3,199,426
LPG tanks and bottles	8	1,006,398		116,503		‐		-		(37,114	)	-		1,085,787
Vehicles	8	371,434		111,735		‐		(29,884	)	(62,657	)	5,257		395,885
Furniture and fixtures	8	212,640		12,649		‐		(154	)	(3,965	)	402		221,572
IT equipment	5	318,721		12,259		‐		(5,950	)	(3,780	)	-		321,250
Construction in progress	-	783,496		1,022,967		‐		(455,740	)	(2,831	)	‐		1,347,892
Advances to suppliers	-	32,557		19,834		‐		(6,558	)	(867	)	‐		44,966
Imports in progress	-	3,107		3,127		‐		(3,106	)	‐		‐		3,128
		13,167,320		1,582,912		‐		(76,908	)	(547,554	)	22,569		14,148,339
Accumulated depreciation:
Buildings	‐	(536,518	)	‐		(54,110	)	4,126		28,014		(134	)	(558,622	)
Leasehold improvements	‐	(683,187	)	‐		(75,957	)	1,798		8,430		-		(748,916	)
Machinery and equipment	‐	(2,147,842	)	‐		(208,103	)	1,776		6,612		(405	)	(2,347,962	)
Automotive fuel/lubricant distribution equipment and facilities	‐	(2,238,843	)	‐		(164,248	)	(7,870	)	289,359		(1,082	)	(2,122,684	)
LPG tanks and bottles	‐	(605,298	)	‐		(92,219	)	-		27,449		-		(670,068	)
Vehicles	‐	(181,511	)	‐		(35,066	)	35,776		26,792		(613	)	(154,622	)
Furniture and fixtures	‐	(130,117	)	‐		(15,718	)	642		2,784		(84	)	(142,493	)
IT equipment	‐	(254,952	)	‐		(22,246	)	8,136		3,387		-		(265,675	)
		(6,778,268	)	‐		(667,667	)	44,384		392,827		(2,318	)	(7,011,042	)
Provision for impairment losses		(1,471	)	(21	)	‐		‐		161		‐		(1,331	)
Net amount		6,387,581		1,582,891		(667,667	)	(32,524	)	(154,566	)	20,251		7,135,966

(i) The remaining balance refers to R$ 22,348 transferred to right-of-use assets and R$ 10,176 transferred to intangible assets.

(ii) For further information, see Note 27.

	Weighted average useful life (years)	Balance as of 12/31/2022		Additions		Depreciation		Transfers (i)		Write-offs		Acquisition of subsidiaries		Balance as of 12/31/2023
Cost:
Land	-	619,116		1,053		‐		3,316		(16,369	)	36		607,152
Buildings	31	1,532,506		27,100		‐		198,398		(111,899	)	891		1,646,996
Leasehold improvements	11	1,169,326		30,348		‐		90,557		(12,458	)	15,225		1,292,998
Machinery and equipment	11	3,186,759		111,726		‐		133,554		(14,634	)	112,779		3,530,184
Automotive fuel/lubricant distribution equipment and facilities	13	3,213,123		86,714		‐		143,010		(92,744	)	11,534		3,361,637
LPG tanks and bottles	8	920,287		129,567		‐		431		(43,887	)	-		1,006,398
Vehicles	8	325,094		24,661		‐		1,351		(9,473	)	29,801		371,434
Furniture and fixtures	9	201,708		12,326		‐		1,649		(4,547	)	1,504		212,640
IT equipment	5	303,023		19,787		‐		4,516		(10,750	)	2,145		318,721
Construction in progress	-	694,726		650,828		‐		(567,114	)	‐		5,056		783,496
Advances to suppliers	-	18,139		20,501		‐		(6,263	)	‐		180		32,557
Imports in progress	-	902		2,205		‐		‐		‐				3,107
		12,184,709		1,116,816		‐		3,405		(316,761	)	179,151		13,167,320
Accumulated depreciation:
Buildings		(591,812	)	‐		(46,187	)	‐		101,919		(438	)	(536,518	)
Leasehold improvements		(618,256	)	‐		(71,139	)	‐		8,858		(2,650	)	(683,187	)
Machinery and equipment		(1,926,954	)	‐		(194,666	)	‐		13,499		(39,721	)	(2,147,842	)
Automotive fuel/lubricant distribution equipment and facilities		(2,113,657	)	‐		(181,233	)	‐		60,982		(4,935	)	(2,238,843	)
LPG tanks and bottles		(557,260	)	‐		(83,777	)	‐		35,739		-		(605,298	)
Vehicles		(154,177	)	‐		(29,483	)	‐		5,608		(3,459	)	(181,511	)
Furniture and fixtures		(118,438	)	‐		(14,032	)			3,052		(699	)	(130,117	)
IT equipment		(239,978	)	‐		(23,721	)			10,058		(1,311	)	(254,952	)
		(6,320,532	)	‐		(644,238	)	‐		239,715		(53,213	)	(6,778,268	)
Provision for impairment losses		(1,764	)	(89	)	‐		‐		382		‐		(1,471	)
Net amount		5,862,413		1,116,727		(644,238	)	3,405		(76,664	)	125,938		6,387,581

(i) Refers to R$ 1,086 transferred to intangible assets and R$ 4,491 transferred from right-of-use assets.

Construction in progress relates substantially to expansions, renovations, constructions and upgrade of the terminals’ assets, service stations and distribution bases.

Advances to suppliers are basically related to manufacturing of assets for expansion of terminals, distribution bases and acquisition of real estate.

	Weighted average useful life (years)	Balance as of 12/31/2021	Additions	Depreciation	Transfers (i)		Write-offs		Acquisition of subsidiaries (see Note 27)	Balance as of 12/31/2022
Cost:
Land	-	610,294	‐	-	23,539		(14,717	)	-	619,116
Buildings	32	1,486,721	20,020	-	73,744		(47,979	)	-	1,532,506
Leasehold improvements	13	1,056,179	40,685	-	82,317		(9,855	)	-	1,169,326
Machinery and equipment	12	3,024,577	99,477	-	70,150		(7,518	)	73	3,186,759
Automotive fuel/lubricant distribution equipment and facilities	13	3,245,586	96,208	-	12,680		(141,351	)	-	3,213,123
LPG tanks and bottles	9	840,931	94,356	-	-		(15,000	)	-	920,287
Vehicles	9	288,239	33,452	-	8,050		(4,647	)	-	325,094
Furniture and fixtures	9	168,092	34,905	-	5,140		(6,531	)	102	201,708
IT equipment	5	330,375	24,069	-	2,053		(53,863	)	389	303,023
Construction in progress	-	452,248	482,043	-	(239,082	)	(483	)	-	694,726
Advances to suppliers	-	14,281	35,887	-	(32,029	)	-		-	18,139
Imports in progress	-	181	902	-	(181	)	-		-	902
		11,517,704	962,004	‐	6,381		(301,944	)	564	12,184,709

Accumulated depreciation:
Buildings	(585,846	)	-		(42,195	)	-		36,229		-		(591,812	)
Leasehold improvements	(573,553	)	-		(58,172	)	606		12,863		-		(618,256	)
Machinery and equipment	(1,758,401	)	-		(175,567	)	-		7,024		(10	)	(1,926,954	)
Automotive fuel/lubricant distribution equipment and facilities	(2,050,533	)	-		(175,899	)	(3	)	112,778		-		(2,113,657	)
LPG tanks and bottles	(498,310	)	-		(69,860	)	-		10,910		-		(557,260	)
Vehicles	(133,149	)	-		(23,713	)	-		2,685		-		(154,177	)
Furniture and fixtures	(112,288	)	-		(11,496	)	(603	)	5,953		(4	)	(118,438	)
IT equipment	(269,534	)	-		(23,933	)	‐		53,526		(37	)	(239,978	)
	(5,981,614	)	‐		(580,835	)	‐		241,968		(51	)	(6,320,532	)
Provision for impairment losses:
Land	(146	)	-		-		-		-		-		(146	)
Leasehold improvements	(18	)	(12	)	-		-		-		-		(30	)
Machinery and equipment	(1,289	)	(27	)	-		-		(250	)	-		(1,566	)
Automotive fuel/lubricant distribution equipment and facilities	(46	)	-		-		-		24		-		(22	)
	(1,499	)	(39	)	‐		‐		(226	)	‐		(1,764	)
	5,534,591		961,965		(580,835	)	6,381		(60,202	)	513		5,862,413

(i) Refers to R$ 1,070 transferred from intangible assets and R$ 5,311 transferred from right-of-use assets.