<SEC-DOCUMENT>0001554855-25-002013.txt : 20251113
<SEC-HEADER>0001554855-25-002013.hdr.sgml : 20251113
<ACCEPTANCE-DATETIME>20251112173833
ACCESSION NUMBER:		0001554855-25-002013
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20251112
FILED AS OF DATE:		20251113
DATE AS OF CHANGE:		20251112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRAPAR HOLDINGS INC
		CENTRAL INDEX KEY:			0001094972
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS DISTRIBUTION [4924]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14950
		FILM NUMBER:		251474520

	BUSINESS ADDRESS:	
		STREET 1:		AV BRIGADERIO LUIZ ANTONIO 1343
		STREET 2:		8 ANDAR SAO PAULO
		CITY:			SP BRAZIL 01350-900
		STATE:			D5
		BUSINESS PHONE:		55 11 3177-7014

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
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<DESCRIPTION>6-K
<TEXT>
<html><head><title></title><meta content="text/html"></meta></head><body><div class="content_container"><div style="font-family: 'times new roman', times; font-size: 10pt;" id="Dq3w0sdcwsbpm7y9nxr6hmc">
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">UNITED STATES</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></p>
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<p style="margin: 0pt 0pt 10pt; text-align: center; text-indent: 0pt;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Washington, D.C. 20549</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 15pt; font-weight: bold;">Form 6-K</font></p>




































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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Report </font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">o</font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">f Foreign Private Issuer</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Pursuant </font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">t</font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">o Rule 13a-16 Or 15d-16 Of</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">The Securities Exchange Act Of 1934</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">For the month of November</font><font style="font-family: 02lfl; font-size: 9pt;">&#160;20</font><font style="font-family: 02lfl; font-size: 9pt;">25</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Commission File Number: </font><font style="font-family: 02lfl; font-size: 9pt;">001-14950</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 14.5pt; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">(Translation of Registrant&#8217;s Name into English)</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Brigadeiro Luis </font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Antonio</font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;"> Avenue</font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">, 1343, 9</font><font style="font-family: 33dgm,Bold; font-size: 6pt; font-weight: bold; vertical-align: super;">th</font> <font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Floor</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">S&#227;o Paulo, SP, Brazil 01317-910</font></p>
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">(Address of Principal Executive Offices)</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Form 20-F </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt;">____</font> <font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">Form 40-F</font><font style="font-family: 02lfl; font-size: 9pt;"> ________</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Yes </font><font style="font-family: 02lfl; font-size: 9pt;">________ </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">No </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">____</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">&#160;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Yes </font><font style="font-family: 02lfl; font-size: 9pt;">________ </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 02lfl; font-size: 9pt;">No </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">____</font></p>
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<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: 10pt; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="font-size: 13pt; line-height: 115%; margin: 0pt; text-align: center; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">TABLE OF CONTENTS</font></p>
<p style="font-size: 12.5pt; line-height: 115%; margin: 0pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</font></p>
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<td style="vertical-align: top; width: 95%; text-align: justify; height: 10px;" valign="top"><a href="#BDnn1_6102025144124516">Individual and Consolidated Interim Financial Information as of and for the Quarter Ended September 30, 2025 and Report on Review of Interim Financial Information</a></td>



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<td style="vertical-align: top; text-align: left; height: 17px;">2.</td>
<td style="vertical-align: top; height: 17px;"><a href="#BDnd1_121020252264092"><font>3Q25 Earnings Release</font></a></td>



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<td style="vertical-align: top; text-align: left; height: 17px;">3.</td>
<td style="vertical-align: top; height: 17px;"><a href="#Bddnn22_1210202534730890"><font>Minutes of the Meeting of the Board of Directors of Ultrapar Participa&#231;&#245;es S.A., held on November 12, 2025</font></a></td>



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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>











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<td style="width: 95%;"><a href="#BDJ1_6102025115626602">Statements of financial position</a></td>
<td class="bmpageno" style="width: 5%; text-align: center;">8</td>


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<td><a href="#BIS2_610202511587202">Statements
of income</a></td>
<td class="bmpageno" style="text-align: center;">10</td>


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<td><a href="#BCI3_6102025115831934">Statements of
comprehensive income</a></td>
<td class="bmpageno" style="text-align: center;">11</td>


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<td><a href="#BSHE4_6102025115856666">
















Statements
of changes in equity


</a></td>
<td class="bmpageno" style="text-align: center;">12</td>


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<td><a href="#BCF5_6102025115920679">Statements
of cash flows - indirect method</a></td>
<td class="bmpageno" style="text-align: center;">14</td>


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<td><a href="#BSD_10_6102025115946922">Statements
of value added</a></td>
<td class="bmpageno" style="text-align: center;">15</td>


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<td><a href="#BJKB12_610202511362120">1. Operations</a></td>
<td class="bmpageno" style="text-align: center;">16</td>


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<td><a href="#BJKB13_6102025113632724">2. Basis of preparation and presentation of individual and consolidated interim financial information </a></td>
<td class="bmpageno" style="text-align: center;">16</td>


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<td><a href="#BJKB14_6102025113642260">3. New accounting policies and changes in accounting policies </a></td>
<td class="bmpageno" style="text-align: center;">20</td>


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<td><a href="#BJKB15_6102025113649378">4. Cash and cash equivalents and financial investments</a></td>
<td class="bmpageno" style="text-align: center;">20</td>


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<td><a href="#BJKB16_6102025113658170">5. Trade receivables and reseller financing (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">21</td>


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<td><a href="#BSD_1_6102025112349665">6. Inventories (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">23</td>


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<td><a href="#BSD_2_6102025112412607">7. Recoverable taxes (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">24</td>


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<td><a href="#BSD_3_610202511242651">8. Related parties</a></td>
<td class="bmpageno" style="text-align: center;">25</td>


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<td><a href="#BSD_4_6102025112442149">9. Income and social contribution taxes</a></td>
<td class="bmpageno" style="text-align: center;">28</td>


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<td><a href="#BSD_5_61020251125750">10. Contractual assets with customers - exclusivity rights (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">29</td>


</tr>
<tr>
<td><a href="#BSD_6_6102025112520419">11. Investments in subsidiaries, joint ventures and associates</a></td>
<td class="bmpageno" style="text-align: center;">30</td>


</tr>
<tr>
<td><a href="#B12r_6102025115342995">12. Right-of-use assets and leases payable (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">34</td>


</tr>
<tr>
<td><a href="#B13pp_6102025115433457">13. Property, plant, and equipment (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">35</td>


</tr>
<tr>
<td><a href="#B14i_6102025115455467">14. Intangible assets (consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">36</td>


</tr>
<tr>
<td><a href="#B15l_6102025115512924">15. Loans, financing and debentures</a></td>
<td class="bmpageno" style="text-align: center;">38</td>


</tr>
<tr>
<td><a href="#B16t_6102025115532619">16. Trade payables (consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">42</td>


</tr>
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<td><a href="#BJSW41_6102025124151840">17. Employee benefits and private pension plan (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">42</td>


</tr>
<tr>
<td><a href="#B18p_610202511565684">18. Provisions and contingent liabilities (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">42</td>


</tr>
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<td><a href="#BJKB1_6102025113440503">19. Subscription warrants &#8211; indemnification</a></td>
<td class="bmpageno" style="text-align: center;">45</td>


</tr>
<tr>
<td><a href="#BJKB2_6102025113451303">20. Equity</a></td>
<td class="bmpageno" style="text-align: center;">46</td>


</tr>
<tr>
<td><a href="#BJKB3_610202511352643">21. Net revenue from sales and services (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">47</td>


</tr>
<tr>
<td><a href="#BJKB4_6102025113510939">22. Costs, expenses and other operating results by nature</a></td>
<td class="bmpageno" style="text-align: center;">47</td>


</tr>
<tr>
<td><a href="#BJKB6_6102025113522107">23. Financial result</a></td>
<td class="bmpageno" style="text-align: center;">49</td>


</tr>
<tr>
<td><a href="#BJKB7_610202511353382">24. Earnings per share (Parent and Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">50</td>


</tr>
<tr>
<td><a href="#BJKB8_6102025113541427">25. Segment information</a></td>
<td class="bmpageno" style="text-align: center;">51</td>


</tr>
<tr>
<td><a href="#BVBKS2_6102025123342857">26. Financial instruments (Consolidated)</a></td>
<td class="bmpageno" style="text-align: center;">55</td>


</tr>
<tr>
<td><a href="#BSD_12_6102025122442554">27. Acquisition of Interest and Control</a></td>
<td class="bmpageno" style="text-align: center;">66</td>


</tr>
<tr>
<td><a href="#BSD_13_6102025122530323">28. Discontinued operation </a></td>
<td class="bmpageno" style="text-align: center;">66</td>


</tr>
<tr>
<td><a href="#BSD_14_6102025122628803">29. Events after the reporting period </a></td>
<td class="bmpageno" style="text-align: center;">73</td>


</tr>






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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Convenience Translation into English from the Original Previously Issued in Portuguese)</font></p>
<p style="margin: 0pt 0pt 10pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br></p>
<p style="margin: 0pt 0pt 10pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; font-size: 20pt;"><font style="font-weight: bold;">Ultrapar Participacoes S.A.</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Report on Review of Interim Financial Information</font><br><font style="font-family: 'times new roman', times; font-size: 10pt;">for Period Of Three And Nine Months&#160;<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ended on September 30, 2025</font><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&#160;</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deloitte Touche Tohmatsu Auditores Independentes Ltda.</font></p>














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<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Deloitte Touche Tohmatsu</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Av. Dr. Chucri Zaidan, 1.240 -</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times;">4<font style="font-size: 8pt;"><sup>o&#160;</sup></font>ao&#160;12<font style="font-size: 8pt;"><sup>o</sup></font>&#160;andares - Golden Tower</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">04711-130 - S&#227;o Paulo - SP</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">Brazil</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">Tel.: + 55 (11) 5186-1000</font></p>
<p style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 8.5pt; margin: 0px; font-size: 10.5pt; font-family: 'Times New Roman', serif;"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">Fax: + 55 (11) 5181-2911</font></p>
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<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(Convenience Translation into English from the Original Previously Issued in Portuguese)</font></p>
<p style="margin: 12pt 0pt 10pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline; line-height: inherit;">REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">To the Shareholders, Board of Directors and Management of<br>Ultrapar Participa&#231;&#245;es S.A.</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Introduction</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">We have reviewed the accompanying individual and consolidated interim financial information of Ultrapar Participa&#231;&#245;es S.A. (&#8220;Company&#8221;), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form (ITR), for the quarter ended September 30, 2025, which comprises the statements of financial position as at September 30, 2025 and the related statements of income and comprehensive income for the three and nine-month periods then ended, and of changes in equity and of cash flows for the nine-month period then ended, including the explanatory notes.</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Management is responsible for the preparation of this individual and consolidated interim financial information in accordance with technical pronouncement CPC 21(R1) and international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Scope of review</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 and ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Conclusion on the individual and consolidated interim financial information</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information has not been prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34 applicable to the preparation of ITR and presented in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM).<br></font></p>
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<p style="line-height: 6.5pt; margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities (collectively, the &#8220;Deloitte organization&#8221;). DTTL (also referred to as &#8220;Deloitte Global&#8221;) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.&#160;</font></p>
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<p style="line-height: 6.5pt; margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Deloitte<font style="color: #000000; font-family: 'times new roman'; font-size: 9.33333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>provides leading professional services to nearly 90% of the Fortune Global 500&#174; and thousands of private companies. Our people deliver measurable and lasting results that help reinforce public trust in capital markets and enable clients to transform and thrive. Building on its 180-year history,<font>&#160;</font></font>Deloitte<font style="color: #000000; font-family: 'times new roman'; font-size: 9.33333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>spans more than 150 countries and territories. Learn how<font>&#160;</font></font>Deloitte&#8217;s<font style="color: #000000; font-family: 'times new roman'; font-size: 9.33333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>approximately 460,000 people worldwide make an impact that matters at <font>www.deloitte.com</font>.&#160;</font></font></p>
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<p style="line-height: 1.2;"><font style="font-size: 7pt; line-height: inherit;">&#169; 2025. For information, contact Deloitte Global.</font></p>















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<div style="font-family: 'times new roman', times; font-size: 10pt;"><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: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><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: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Other matters</font><br>
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<p style="margin: 0pt; text-align: right; line-height: 1.2;"><font style="color: #003399; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Statements of value added</font></p>
<p style="margin: 0pt 0pt 10pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">The interim financial information referred to above includes the individual and consolidated statements of value added (DVA) for the nine-month period ended September 30, 2025, prepared under the responsibility of the Company&#8217;s Management, and presented as supplemental information for international standard IAS 34 purposes. These statements were subject to the review procedures performed together with the review of the ITR to reach a conclusion on whether they are reconciled with the interim financial information and the accounting records, as applicable, and if their form and content are consistent with the criteria set forth in technical pronouncement CPC 09 (R1) - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added were not prepared, in all material respects, in accordance with the criteria defined in such standard and consistently with the individual and consolidated interim financial information taken as a whole.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The accompanying interim financial information has been translated into English for the convenience of readers outside Brazil.</font></p>
<p style="margin: 0pt 0pt 30pt; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">S&#227;o Paulo, November 12, 2025</font></p>
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<td style="width: 43.6275%; height: 17px;"><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: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">DELOITTE TOUCHE TOHMATSU</font></td>
<td style="width: 56.3725%; height: 17px;"><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; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Daniel&#160;</font>Corr&#234;a<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;de S&#225;</font></font></td>












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<td style="width: 43.6275%; height: 17px;">Auditores<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Independentes<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Ltda<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>
<td style="width: 56.3725%; height: 17px;"><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: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Engagement Partner</font></td>












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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






















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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


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<p align="left" style="margin: 0in; text-align: justify; break-after: avoid; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-family: 'times new roman', times;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BDJ1_6102025115626602"><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;">Statements of financial position</font></b></a><b><font style="font-size: 10pt;"></font></b></font></p>

















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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">As of September 30, 2025 and December 31, 2024</font></td>


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<td style="width: 50%;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;"><font style="font-style: italic;">(In thousands of Brazilian Reais)</font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Assets</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current assets</font></p>















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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,909</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,186</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,534,050</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,071,593</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,580</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,100</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,489,624</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,306,927</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.f</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">180,981</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">246,084</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,696,699</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,540,266</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reseller financing</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">515,715</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">511,979</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Inventories</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,824,082</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,917,076</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,514</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,323</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,713,727</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,040,008</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable income and social contribution taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,870</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,734</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">278,579</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">151,930</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.h</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">236,026</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">141,257</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dividends receivable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46,079</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">877</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,415</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables and other assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,779</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,859</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">288,340</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">294,769</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Prepaid expenses</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,647</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,506</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">166,317</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">163,846</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Contractual assets with customers - exclusivity rights</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">662,929</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">658,571</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">188,378</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">143,708</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,587,946</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,047,721</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Assets held for sale</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">28</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">146,803</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,086</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total current assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">335,181</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">143,708</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,297,032</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,047,721</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">355,000</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">300,001</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,609,230</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,819,179</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.f</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">655,149</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">585,294</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">35,428</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,003</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reseller financing</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">762,038</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">766,045</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties </font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">8</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,518</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,076</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,394</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,309</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">138,930</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">142,630</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">848,627</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">936,941</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,613,722</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,650,269</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable income and social contribution taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,196</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,196</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">310,233</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">346,137</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.h</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">423,863</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">263,438</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Escrow deposits</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,931</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,615</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">480,550</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">446,076</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Indemnification asset - business combination</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18.c</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">150,804</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">126,098</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables and other assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,215</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,607</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">255,317</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">117,076</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Prepaid expenses</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,249</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,989</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,886</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">40,904</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Contractual assets with customers - exclusivity rights</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,473,393</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,473,331</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments in subsidiaries, joint ventures and associates</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,590,398</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,898,466</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">505,651</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,148,633</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Right-of-use assets, net</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,524</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,664</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,927,044</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,671,324</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment, net</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">64,303</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">68,447</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,828,944</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,135,966</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intangible assets, net</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">271,645</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">273,674</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,239,365</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,908,330</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total non-current assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,479,983</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,739,439</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,267,638</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: rgb(204, 238, 255);border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,510,353</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 30pt; text-indent: 1.15pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total assets</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,815,164</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,883,147</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,564,670</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,558,074</font></p>















</td>
</tr>
















</table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>








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

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










</tr>





















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



</div>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


</tr>
<tr>
<td style="width: 50%;">
<p align="left" style="margin: 0in; text-align: justify; break-after: avoid; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-family: 'times new roman', times;"><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;">Statements of financial position</font></b></font><b><font style="font-size: 10.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;"></font></b></p>

















</td>


</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">As of September 30, 2025 and December 31, 2024</font></td>


</tr>
<tr>
<td style="width: 50%;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(In thousands of Brazilian Reais)</font></td>
<td style="width: 50%; vertical-align: top;"><br></td>


</tr>


























</table>
<p style="margin: 0pt;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 790px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 99.6914%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 46%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,285</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25,423</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,518,385</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables - reverse factoring</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,014,504</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and debentures</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,642,037</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,478,673</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.f</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">205,539</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,087</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">41,910</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44,191</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">544,201</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">480,285</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Taxes payable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">622</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">903</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">231,343</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">151,230</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.h</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">174,690</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">66,729</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dividends payable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,725</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">293,165</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,187</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">327,471</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes payable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">655</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">175</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">292,156</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">322,074</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Post-employment benefits</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">17.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,098</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,098</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provisions for tax, civil and labor risks</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">305</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">431</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">66,818</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,788</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,170</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,012</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">336,447</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">316,460</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">76,100</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">117,090</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">449</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,069</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">443,779</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">554,327</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">92,121</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">369,369</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,467,529</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,493,201</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Liabilities held for sale</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">28</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">442,358</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total current liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">92,121</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">369,369</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,909,887</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,493,201</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and debentures</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,143,403</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,381,837</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.f</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">376,450</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">367,513</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26.h</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">170,398</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,047</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">8</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,516</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">631,487</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">132,825</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Post-employment benefits</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">17.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,776</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,517</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">212,529</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">198,778</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provisions for tax, civil and labor risks</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">134,462</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">197,396</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">628,051</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">610,572</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,383</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,698</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,371,429</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,168,692</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,508</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">63,135</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subscription warrants - indemnification</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">19</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,672</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,745</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,672</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,745</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for loss on investment</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">88,639</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">68,530</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">36,835</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">349</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.4pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46,493</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31,299</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">337,560</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">218,420</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;&#160; Total non-current liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">335,300</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">355,060</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,988,197</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,241,429</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Equity</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share capital</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.a</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,987,100</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,621,752</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,987,100</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,621,752</font></p>















</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Equity instrument granted</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">129,776</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">108,253</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">129,776</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">108,253</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital reserve</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.d</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">617,279</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">612,048</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">617,279</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">612,048</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Treasury shares</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.c</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(826,914)</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(596,400)</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(826,914)</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(596,400)</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Revaluation reserve</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.d</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,499</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,632</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,499</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,632</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Profit reserves</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20.e</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,621,752</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,195,221</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,621,752</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,195,221</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Retained earnings</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,804,478</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,804,478</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Accumulated other comprehensive income</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">125,855</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">214,212</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">125,855</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">214,212</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Shareholder transactions</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">27.b</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(75,082)</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(75,082)</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar shareholders&#8217; equity</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,387,743</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,158,718</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,387,743</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,158,718</font></p>















</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-controlling interests</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,278,843</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">664,726</font></p>















</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total equity</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,387,743</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,158,718</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,666,586</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;border-bottom-width:1px; border-bottom-style: solid; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,823,444</font></p>















</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;&#160; Total liabilities</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,815,164</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,883,147</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,564,670</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;border-bottom-width:2.8pt; border-bottom-style:double; border-bottom-color:rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,558,074</font></p>















</td>
</tr>
















</table>
<p style="margin: 5pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The accompanying notes are an integral part of the interim financial information.</font></p>



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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">9</font></font></td>













</tr>



























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>














</div><div id="D2nhqom1ny4ceo2bmiilcdt" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 110px;">

<tr style="height: 57px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 57px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>



















</td>
<td style="width: 50%; vertical-align: top; height: 93px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>



</tr>
<tr style="height: 19px;">
<td style="width: 50%; height: 19px;">
<div style="margin: 0in; text-align: justify; break-after: avoid; font-size: 11pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BIS2_610202511587202"><font style="font-family: 'times new roman', times;"><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;">Statements
of income</font></b></font></a><b><font style="font-size: 10.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;"></font></b></div>













</td>



</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>



</tr>
<tr style="height: 17px;">
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><!--StartFragment -->
<p><font>(<font style="font-style: italic;">In thousands of Brazilian Reais, except earnings per thousand shares)</font></font></p>



</td>
<td style="width: 50%; vertical-align: top; height: 17px;"><br></td>



</tr>
























</table>












</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: Arial; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 896px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>













</td>
<td style="height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"></td>











</tr>
<tr style="height: 48px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;<font style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Note</font></font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2025 to 09/30/2025</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2025 to 09/30/2025</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2024 to 09/30/2024</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2024 to 09/30/2024</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2025 <br>to <br>09/30/2025</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2025 <br>to <br>09/30/2025</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2024 <br>to <br>09/30/2024</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 48px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2024 <br>to <br>09/30/2024</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 27%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Continuing operations</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 0.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; width: 8%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Net revenue from sales and services</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">21</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">37,033,855</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">104,418,160</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">35,357,672</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">98,097,521</font></p>













</td>











</tr>
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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Cost of products and services sold</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">22</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(34,556,279)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(97,651,246)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(33,075,501)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(91,646,046)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>













</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,477,576</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,766,914</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,282,171</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,451,475</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
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</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













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</td>











</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Operating income (expenses)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 12px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Selling and marketing</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">22</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(603,771)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,853,859)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(671,002)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,884,131)</font></p>













</td>











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<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">General and administrative</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">22</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(10,674)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(38,302)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(11,590)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(36,355)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(569,207)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,626,953)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(420,531)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,374,833)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Results from disposal of assets</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">5</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">12</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">59</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">13,304</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">34,005</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">31,480</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">105,361</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Other operating income (expenses), net</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">22</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,460</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">51,761</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(4,938)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">26,917</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">123,507</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">487,060</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(111,377)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(337,406)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 32px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Operating result before share of profit (loss) of subsidiaries, joint ventures and associates, financial result and income and social contribution taxes</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(9,209)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">13,466</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(16,516)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(9,379)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,441,409</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,807,167</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,110,741</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,960,466</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">11</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">716,865</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,113,930</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">670,085</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,508,446</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(8,061)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(115,726)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">4,127</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(6,970)</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">11</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(403)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,208)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(407)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(2,089)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Gain on acquisition of control of associate</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">27.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">91,105</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Total share of profit (loss) of subsidiaries, joint ventures and associates</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">716,865</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,113,930</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">670,085</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,508,446</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(8,464)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(25,829)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,720</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(9,059)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Income before financial result and income and social contribution taxes</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">707,656</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,127,396</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">653,569</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,499,067</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,432,945</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,781,338</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,114,461</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,951,407</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Financial income</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">23</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">12,504</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">40,484</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">5,419</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">48,291</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">373,444</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,194,702</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">220,808</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">661,588</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Financial expenses</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">23</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(12,401)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(19,318)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,115</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(20,648)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(774,472)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,807,112)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(329,069)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,258,366)</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;&#160;&#160; Financial result, net</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">23</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">103</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">21,166</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,534</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">27,643</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(401,028)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(612,410)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(108,261)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(596,778)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Income before income and social contribution taxes</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">707,759</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,148,562</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">661,103</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,526,710</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,031,917</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,168,928</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,006,200</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,354,629</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Income and social contribution taxes</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Current</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">9.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(585)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,535)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,927)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(12,519)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(252,588)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(723,886)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(365,650)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(760,375)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Deferred</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">9.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,810</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(3,700)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(7,594)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,780</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(4,824)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(135,431)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">57,872</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">50,827</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,225</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(5,235)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(9,521)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(5,739)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(257,412)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(859,317)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(307,778)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(709,548)</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Net income from continuing operations</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">710,984</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,143,327</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">651,582</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">774,505</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,309,611</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">698,422</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,645,081</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Discontinued operations</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Net income (loss) from discontinued operations</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">28</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,796)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(12,929)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(2,100)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(23,490)</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>











</tr>
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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Net income for the period</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">709,188</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">651,582</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">772,405</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,286,121</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">698,422</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,645,081</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Income attributable to:</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; border-top-width: 2.8pt; border-top-style: double; border-top-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160; Shareholders of Ultrapar</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">709,188</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">651,582</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">709,188</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">651,582</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,520,971</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160; Non-controlling interests in subsidiaries</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">11</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">63,217</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">155,723</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">46,840</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">124,110</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 32px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Total earnings per share from continuing operations (based on the weighted average number of shares outstanding) &#8211; R$</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Basic</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">24</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6543</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9671</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5903</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3800</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6543</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9671</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5903</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3800</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Diluted</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">24</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6419</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9321</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5818</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3616</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6419</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9321</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5818</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3616</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>











</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Basic</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">24</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6527</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9552</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5903</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3800</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6527</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9552</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5903</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3800</font></p>













</td>











</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Diluted</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">24</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6403</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9204</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5818</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3616</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.6403</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.9204</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">0.5818</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>













</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1.3616</font></p>













</td>











</tr>

























</table>
<p>&#160;</p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The accompanying notes are an integral part of the interim financial information.</font></p>







</div>






</div>






</div>
<div style="line-height: 1.2;">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>












</div>











</div><div id="Dfsx9lsdz4zaavgbgv567k" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


</tr>
<tr>
<td style="width: 50%;">
<p align="left" style="margin: 0in; text-align: left; break-after: avoid; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-family: 'times new roman', times;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BCI3_6102025115831934"><font style="mso-bookmark: _Toc121495791;"><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;">Statements of
comprehensive income</font></b></font></a><b><font style="font-size: 10pt;"></font></b></font></p>













</td>


</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>


</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="font-style: italic;">(In thousands of Brazilian Reais)</font></td>
<td style="width: 50%; vertical-align: top;"><br></td>


</tr>






















</table>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>









</div>
<div>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; height: 218px; width: 100.491%; text-indent: 0px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: Aptos; font-size: 8pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>










</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: Aptos; font-size: 8pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Note</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">07/01/2025 to 09/30/2025</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">01/01/2025 to 09/30/2025</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">07/01/2024 to 09/30/2024</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">01/01/2024 to 09/30/2024</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">07/01/2025 to 09/30/2025</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">01/01/2025 to 09/30/2025</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">07/01/2024 to 09/30/2024</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">01/01/2024 to 09/30/2024</font></p>










</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 30%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Net income for the period, attributable to shareholders of Ultrapar</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 6%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">709,188</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,130,398</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">651,582</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,520,971</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">709,188</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,130,398</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">651,582</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; width: 7%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,520,971</font></p>










</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Net income for the period, attributable to non-controlling interests in subsidiaries</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">63,217</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">155,723</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">46,840</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">124,110</font></p>










</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Net income for the period</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">709,188</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,130,398</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">651,582</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,520,971</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">772,405</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,286,121</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">698,422</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,645,081</font></p>










</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Items that will be subsequently reclassified to profit or loss:</font></p>










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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Fair value adjustments of financial instruments of subsidiaries, joint ventures and associates, net of income and social contribution taxes</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">13,860</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(19,905)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">27,161</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">35,790</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">18,531</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(9,061)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">27,161</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">35,790</font></p>










</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Translation adjustments and hedge accounting effects, net of taxes</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(38,815)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(68,452)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(64,889)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">(121,323)</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; background-color: rgb(204, 238, 255); vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Total comprehensive income for the period</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">684,233</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,042,041</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">678,743</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,556,761</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">726,047</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,155,737</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">725,583</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 18px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0) !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,680,871</font></p>










</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Total comprehensive income for the period attributable to shareholders of Ultrapar</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">684,233</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,042,041</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">678,743</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,556,761</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">684,233</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">2,042,041</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">678,743</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">1,556,761</font></p>










</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt;">Total comprehensive income for the period attributable to non-controlling interests in subsidiaries</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#8208;</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">41,814</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">113,696</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">46,840</font></p>










</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</font></p>










</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt;">124,110</font></p>










</td>
</tr>











</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of the interim financial information.</font></p>






</div>





</div>





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

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








</tr>

















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>








</div>









</div>








</div><div id="Du63hqgcg71k0s2vi2bmj28l" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0px; text-indent: 0px;"><br></div>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>



</tr>
<tr>
<td style="width: 50%;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSHE4_6102025115856666"><font style="font-family: 'times new roman', times;">
















<b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;"><font style="mso-bookmark: _Toc121495792;">Statements
of changes in equity</font></font></b>


</font></a></td>



</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>



</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="font-style: italic;">(In thousands of Brazilian Reais, except dividends per share)</font></td>
<td style="width: 50%; vertical-align: top;"><br></td>



</tr>


























</table>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; line-height: 1.2; text-indent: 0px;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 255px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p style="margin: 0pt;"><br></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Equity attributable to:</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Note</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Share capital</font></p>













</td>
<td valign="bottom" style="height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Equity instrument granted</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Capital reserve</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Treasury shares</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Revaluation reserve</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Profit reserves</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Accumulated other comprehensive income</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Shareholder transactions</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Retained earnings</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Shareholders of Ultrapar</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Non-controlling interests <sup>(i)</sup></font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Total equity</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding: 0px 4px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 29.5%;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">6,621,752</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">108,253</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">612,048</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">(596,400)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">3,632</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">8,195,221</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">214,212</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">15,158,718</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">664,726</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.5%;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">15,823,444</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Net income for the period</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">155,723</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,286,121</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Other comprehensive income</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(88,357)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(88,357)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(42,027)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(130,384)</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Total comprehensive income for the period</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(88,357)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,130,398</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,042,041</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">113,696</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2,155,737</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Issuance of shares related to the subscription warrants - indemnification</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">7,863</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">7,863</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">7,863</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Equity instrument granted</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">8.d; 20.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">21,523</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(7,081)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">36,428</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">50,870</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(1,570)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">49,300</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Purchase of treasury shares</font></p>













</td>
<td style="height: 10px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">20.c</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(266,942)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(266,942)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(266,942)</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Realization of revaluation reserve</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(133)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">133</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Capital increase with reserves</font></p>













</td>
<td style="height: 10px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">20.a</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,365,348</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(1,365,348)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Capital increase of non-controlling shareholders</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">12,154</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">12,154</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Shareholder transaction</font></p>













</td>
<td style="height: 10px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">27.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(75,082)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(48)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(75,130)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(75,130)</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Realization of capital reserve</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4,449</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4,449</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4,449</font></p>













</td>


</tr>
<tr style="height: 32px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Non-controlling interest in the equity of acquired subsidiary &#8211; Hidrovias</font></p>













</td>
<td style="height: 32px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,639,034</font></p>













</td>
<td style="height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 32px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,639,034</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Variation in change of ownership interest of non-controlling shareholders</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(110,796)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(110,796)</font></p>













</td>


</tr>
<tr style="height: 26px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Non-controlling interest in acquired subsidiary</font></p>













</td>
<td style="height: 26px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">15,691</font></p>













</td>
<td style="height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 26px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">15,691</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Dividends and interest on capital attributable to non-controlling interests</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(54,092)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(54,092)</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Additional dividends</font></p>













</td>
<td style="height: 10px; text-align: center; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">20.e</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(208,121)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(208,121)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(208,121)</font></p>













</td>


</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Interim dividends (R$ 0.30 per share)</font></p>













</td>
<td style="height: 10px; text-align: center; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">20.e</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(326,005)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(326,005)</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(326,005)</font></p>













</td>


</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">7,987,100</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">129,776</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">617,279</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">(826,914)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">3,499</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">6,621,752</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">125,855</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">(75,082)</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">1,804,478</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">16,387,743</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">2,278,843</font></p>













</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom-width: 2.8pt; border-bottom-style: double; height: 10px; background-color: #cceeff; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">18,666,586</font></p>













</td>


</tr>
















</table>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; line-height: 1.2; text-indent: 0px;"><br></p>








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

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<div id="Du63hqgcg71k0s2vi2bmj28l" style="font-family: 'times new roman', times; font-size: 10pt;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="font-family: 'times new roman', times;">
















<b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;"><font style="mso-bookmark: _Toc121495792;">Statements
of changes in equity</font></font></b>


</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>





















</tr>












































</table>
<p style="margin: 0pt;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 295px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Equity attributable to:</font></p>













</td>
<td valign="bottom" style="height: 17px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>












</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #0563c1; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Note</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Share capital</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Equity instrument granted</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Capital reserve</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Treasury shares</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Revaluation reserve</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Profit reserves</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Accumulated other comprehensive income</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Cumulative translation adjustments </font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Retained earnings</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Shareholders of Ultrapar</font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Non-controlling interests <sup>(i)</sup></font></p>













</td>
<td valign="bottom" style="height: 10px;">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Total equity</font></p>













</td>












</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 29.5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;"><font style="font-family: 'times new roman', times; line-height: inherit;">Balance as of December 31, 2</font>023</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">6,621,752</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">75,925</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">597,828</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">(470,510)</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">3,802</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">6,523,590</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">154,108</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">13,506,495</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">523,331</font></p>













</td>
<td style="height: 18px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; background-color: #cceeff; width: 5%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">14,029,826</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Net income for the period</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">124,110</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,645,081</font></p>













</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Other comprehensive income</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">35,790</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">35,790</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">35,790</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Total comprehensive income for the period</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">35,790</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,520,971</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,556,761</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">124,110</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,680,871</font></p>













</td>












</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Issuance of shares related to the subscription warrants - indemnification</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">6,452</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">6,452</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 10px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">6,452</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Equity instrument granted</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">8.d; 20.b</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">17,192</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">1,965</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">21,593</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">40,750</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">40,754</font></p>













</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Realization of revaluation reserve of subsidiaries</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(132)</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">132</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Shareholder transaction - changes of ownership interest</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">9</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">9</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">403</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">412</font></p>













</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Dividends prescribed</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">3,369</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">3,369</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">-</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">3,369</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Non-controlling interest in acquired subsidiary</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">107,954</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">107,954</font></p>













</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Allocation of net income:</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Interest on equity attributable to non-controlling interests</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(105,590)</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(105,590)</font></p>













</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Dividends attributable to non-controlling interests</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">-</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(5,562)</font></p>













</td>
<td style="height: 17px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(5,562)</font></p>













</td>












</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Approval of additional dividends by the Ordinary General Shareholders&#8217; Meeting </font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(134,031)</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(275,971)</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(410,002)</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 34px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">(410,002)</font></p>













</td>












</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2024</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">6,621,752</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">93,117</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">606,245</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">(448,917)</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">3,670</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">6,389,559</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">189,898</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">1,248,510</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">14,703,834</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">644,650</font></p>













</td>
<td style="height: 19px; vertical-align: bottom;" valign="bottom">
<p>&#160;</p>













</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">15,348,484</font></p>













</td>












</tr>


























</table>












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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Are substantially represented by non-controlling shareholders of Iconic and<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>





</tr>











</table>





</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-family: Aptos; font-size: 8pt;">&#160; &#160; &#160; &#160;</font>
<p style="margin: 0pt 0pt 0pt 14.2pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">The accompanying notes are an integral part of the interim financial information.</font></p>




</div>




</div>




</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; line-height: 1.2; text-indent: 0px;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt;"><br></p>












</div><div id="D2zurbqww9qla4qcfqe013b" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 115px;">

<tr style="height: 57px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 57px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






















</td>
<td style="width: 50%; vertical-align: top; height: 98px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>




</tr>
<tr style="height: 24px;">
<td style="width: 50%; height: 24px;">
<div style="margin: 0px; text-align: left; text-indent: 0px; break-after: avoid; font-size: 11pt;"><div><font style="font-family: 'times new roman', times;"><font style="mso-bookmark: _Toc121495793;"><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BCF5_6102025115920679">Statements of cash flows - indirect method</a></font></b></font><b><font style="font-size: 14pt;"></font></b></font></div></div>

















</td>




</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>




</tr>
<tr style="height: 17px;">
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><font style="font-style: italic;">(In thousands of Brazilian Reais)</font></td>
<td style="width: 50%; vertical-align: top; height: 17px;"><br></td>




</tr>




























</table>












<br>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 99.2661%; height: 1570px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;&#160;&#160; Parent&#160;&#160;&#160; </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 56%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">CASH FLOWS FROM CONTINUING OPERATING ACTIVITIES</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); width: 1%; height: 17px;"><br></td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="vertical-align: middle; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income from continuing operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,143,327</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,520,971</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,309,611</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,645,081</font></p>














</td>

</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjustments to reconcile net income to cash provided (consumed) by operating activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates and amortization of fair value adjustments on associates acquisition</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,113,930)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,508,446)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">116,934</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,059</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of contractual assets with customers - exclusivity rights</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">339,336</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">402,804</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of right-of-use assets</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,189</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,101</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">266,781</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">230,157</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13; 14</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,198</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,715</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">883,638</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">673,806</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest, monetary variations and foreign exchange variations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(46,479)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,616</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">674,375</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">944,259</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current and deferred income and social contribution taxes</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9.b</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,235</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,739</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">859,317</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,548</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain (loss) on disposal or write-off of assets&#160; </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(35,298)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(44,694)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(140,600)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Equity instrument granted&#160; </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,718</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,005</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,523</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">40,754</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain (loss) on the fair value of energy contracts</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(24,694)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for decarbonization - CBIO</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">307,123</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">441,813</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Revaluation of investment in associates</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">27.b</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(91,105)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other provisions and adjustments</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(53,553)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,041)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(40,686)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">68,555</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(40,302)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20,362</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5,577,459</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5,025,236</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(Increase) decrease in assets</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables and reseller financing</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(116,308)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">157,955</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Inventories</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">267,745</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(455,469)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable taxes</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,339</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,383</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(83,794)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">279,511</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dividends received from subsidiaries, associates and joint ventures</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,635,828</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">614,857</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,187</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,028</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other assets</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,783)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,836)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,011</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(180,303)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Increase (decrease) in liabilities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables and trade payables - reverse factoring</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,862</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,606</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,254,598)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,400,113)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,281)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(11,683)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,458</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(31,557)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Taxes payable</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(281)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(990)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,217</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(30,242)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes payable</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,657</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,171)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(732,602)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(719,429)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other liabilities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">55,055</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,654)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,371</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(19,479)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Acquisition of CBIO and carbon credits</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(323,409)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(586,695)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Payments of contractual assets with customers - exclusivity rights</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(284,461)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(285,666)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Payment of contingencies</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,026)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(20,199)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(30,896)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes paid</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(263)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,920)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(69,008)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(219,900)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided by continuing operating activities </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,649,805</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">600,954</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,044,069</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,504,981</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided by discontinued operating activities </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26,833</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided by operating activities </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,649,805</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">600,954</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,070,902</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,504,981</font></p>














</td>

</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">CASH FLOWS FROM INVESTING ACTIVITIES</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments, net of redemptions</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.b</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(21,237)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">142,736</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">648,099</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,051,959)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Acquisition of property, plant and equipment and intangible assets</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13; 14</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,027)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(75,627)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,335,013)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,099,268)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash provided by disposal of investments and property, plant and equipment</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">264,564</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">110,954</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,256,077</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital increase in subsidiaries, associates and joint ventures</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(537,149)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(585,335)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital decrease in subsidiaries, associates and joint ventures</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">522</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net cash consumed in the purchase of investments and other assets</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(617,172)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,242,517)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash acquired in business combination</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,172,234</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by continuing investing activities </font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(563,413)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(253,662)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(20,898)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(3,137,145)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by discontinued investing activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(21,728)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by investing activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(563,413)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(253,662)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(42,626)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(3,137,145)</font></p>














</td>

</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">CASH FLOWS FROM FINANCING ACTIVITIES</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Loans, financing and debentures</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Proceeds</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,960,091</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,658,510</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Repayments</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,521,892)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,125,954)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest and derivatives (paid) or received</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,838</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,261,965)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(741,857)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Payments of lease</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Principal and interest paid</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12.b</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,719)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,638)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(367,195)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(326,418)</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dividends paid</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(811,566)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(712,916)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(898,536)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(781,182)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Payments of financial liabilities of customers</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(97,899)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(123,203)</font></p>














</td>

</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital increase made by non-controlling shareholders and redemption of shares</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,300)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,500</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Repurchase of treasury shares</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(266,942)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(266,942)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(442)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(398)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(31,936)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; background-color: #cceeff; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(11,554)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
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</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by continuing financing activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(1,081,669)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(708,114)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(2,498,574)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(438,158)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by discontinued financing activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(558)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash consumed by financing activities</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top-width: 1px; border-top-style: solid; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(1,081,669)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top-width: 1px; border-top-style: solid; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(708,114)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top-width: 1px; border-top-style: solid; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(2,499,132)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top-width: 1px; border-top-style: solid; border-bottom-width: 2.8pt; border-bottom-style: double; height: 18px; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(438,158)</font></p>














</td>

</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Effect of exchange rate changes on cash and cash equivalents in foreign currency - continuing operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(62,140)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Effect of exchange rate changes on cash and cash equivalents in foreign currency - discontinued operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Increase (decrease) in cash and cash equivalents -continuing operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,723</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(360,822)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">462,457</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,070,322)</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Increase (decrease) in cash and cash equivalents -discontinued operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,547</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents at the beginning of the period - continuing operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.a</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,186</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">412,840</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,071,593</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,925,688</font></p>














</td>

</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents at the beginning of the period - discontinued operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,313</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents at the end of the period - continuing operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4.a</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,909</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52,018</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,534,050</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,855,366</font></p>














</td>

</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents at the end of the period - discontinued operations</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,860</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-cash transactions:</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Addition and remeasurement on right-of-use assets and leases payable</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">279,718</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">273,745</font></p>














</td>

</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Addition on contractual assets with customers - exclusivity rights</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">59,295</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">53,961</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reclassification between financial assets and investment in associates</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">645,333</font></p>














</td>

</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Acquisition of property, plant and equipment and intangible assets without cash effect</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,476</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,046</font></p>














</td>

</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital increase in subsidiaries with shares</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">133,552</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














</td>

</tr>
















</table>
<p style="margin: 0px; line-height: 1.2; text-indent: 0px;"><br><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The accompanying notes are an integral part of the interim financial information.</font></p>






</div>
<p style="margin: 0px; line-height: 1.2; text-indent: 0px;"><font style="font-family: Calibri; font-size: 11pt; line-height: inherit;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">14</font></font></td>












</tr>

























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












</div>
<p style="margin: 0px; line-height: 1.2; text-indent: 0px;"><font style="font-family: Calibri; font-size: 11pt; line-height: inherit;">&#160; &#160;</font></p>













</div>












</div><div id="Dme2ui89e3nksd1nmgfwj7" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>



















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


</tr>
<tr>
<td style="width: 50%;">
<div style="margin: 0in; text-align: left; break-after: avoid; font-size: 11pt;"><div><b style="mso-bidi-font-weight: normal;"><font style="font-size: 10.0pt; mso-bidi-font-size: 11.0pt; font-family: 'Aptos',sans-serif;"><font style="font-family: 'times new roman', times;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_10_6102025115946922">Statements<br>of value added</a></font></font></b><b><font style="font-size: 10.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;"></font></b></div></div>














</td>


</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; float: none; display: inline !important;">For the periods ended September 30, 2025 and 2024</font></td>


</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; text-align: left;"><font style="font-style: italic;">(In thousands of Brazilian Reais)</font></td>
<td style="width: 50%; vertical-align: top;"><br></td>


</tr>























</table>
<div style="line-height: 1.2;"><br>
<table cellspacing="0" cellpadding="0" style="height: 1074px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;border-bottom-width: 1pt ;border-bottom-style: solid ;border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom: 1pt solid rgb(0, 0, 0);">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom: 1pt solid rgb(0, 0, 0);">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom: 1pt solid rgb(0, 0, 0);">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom: 1pt solid rgb(0, 0, 0);">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); width: 46%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Revenues</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); width: 1%; vertical-align: bottom;" valign="bottom"><br></td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; background-color: rgb(204, 238, 255); width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Gross revenue from sales and services, except rents and royalties</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">21</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">108,042,397</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">102,028,684</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">21</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(765,919)</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">5</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">10; 21</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(339,336)</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(402,804)</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">51,768</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">26,976</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">521,065</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(232,045)</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">51,768</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">26,976</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">107,439,413</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">100,524,797</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Materials purchased from third parties</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Cost of products and services sold</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(97,620,893)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(91,744,783)</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Materials, energy, third-party services and others</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">175,782</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">150,242</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,290,680)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(1,345,238)</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Provision for assets losses</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,034</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">498</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">175,782</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">150,242</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(98,905,539)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(93,089,523)</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Gross value added</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">227,550</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">177,218</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">8,533,874</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,435,274</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">214,163</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">163,402</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,383,455</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,531,311</font></p>












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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Total share of profit (loss) of subsidiaries, joint ventures and associates</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">11</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,113,930</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,508,446</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(25,829)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(9,059)</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Rents and royalties</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">21</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">101,295</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">236,807</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Financial income</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">23</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">40,484</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">48,291</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,194,702</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">661,588</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,154,414</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,556,737</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,270,168</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">889,336</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Value added from continuing operations available for distribution</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,368,577</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,720,139</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">8,653,623</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,420,647</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Value added from discontinued operations available for distribution</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(12,929)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(3,530)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Total value added available for distribution</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,355,648</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,720,139</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">8,650,093</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,420,647</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Distribution of value added</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Personnel and related charges</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Salaries and wages</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">150,083</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">123,122</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,297,695</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,105,759</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Benefits</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">21,227</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">19,398</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">380,693</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">338,353</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Government Severance Indemnity Fund for Employees (FGTS)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">6,327</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">5,371</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">80,154</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">78,153</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Others</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,913</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">5,986</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">87,888</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">185,759</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">180,550</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">153,877</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,846,430</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,708,024</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Taxes, fees and contributions</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Federal</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">21,464</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">25,291</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,118,661</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,268,280</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">State</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">393,250</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">388,155</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Municipal</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">294</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">277</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">162,024</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">117,874</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">21,758</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">25,568</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,673,935</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,774,309</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Financial expenses and rents</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Interest, foreign exchange variations and financial instruments</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,663</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(116)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,611,512</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,145,702</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Rents</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,890</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">3,624</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">104,392</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">83,424</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Others</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">17,389</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">16,215</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">107,743</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">64,107</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">22,942</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">19,723</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,823,647</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,293,233</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Remuneration of own capital</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Interest on capital and dividends</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">275,971</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">380,097</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">381,561</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">Retained earnings</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,143,327</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,245,000</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,929,514</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,263,520</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,143,327</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,520,971</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,309,611</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,645,081</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Value added from continuing operations distributed</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,368,577</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,720,139</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">8,653,623</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,420,647</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Value added from discontinued operations distributed</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(12,929)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">(3,530)</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#8208;</font></p>












</td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; background-color: rgb(204, 238, 255); vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">Value added distributed</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">2,355,648</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">1,720,139</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">8,650,093</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">&#160;</font></p>












</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: rgb(0, 0, 0) !important; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">7,420,647</font></p>












</td>
</tr>













</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;">The accompanying notes are an integral part of the interim financial information.</font></p>








</div>







</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">15</font></font></td>









</tr>



















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









</div>









</div>










</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br></div>
<div id="Dczio1llhv861gkqxkbf2ov" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























</td>
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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























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<div style="background-color: #002060; margin: 12pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB12_610202511362120"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1. Operations</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar Participa&#231;&#245;es S.A. (&#8220;Ultrapar&#8221; or &#8220;Company&#8221;) is a publicly-traded company headquartered at the Brigadeiro Lu&#237;s Ant&#244;nio Avenue, 1343 in the city of S&#227;o Paulo &#8211; SP, Brazil, listed on B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o (&#8220;B3&#8221;), in the Novo Mercado listing segment under the ticker &#8220;UGPA3&#8221; and on the New York Stock Exchange (&#8220;NYSE&#8221;) in the form of level III American Depositary Receipts (&#8220;ADRs&#8221;) under the ticker &#8220;UGP&#8221;.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company engages in the investment of its own capital in services, commercial and industrial activities, through the subscription or acquisition of shares of other companies. Through its subsidiaries, it operates on liquefied petroleum gas distribution and other energies (&#8220;Ultragaz&#8221;), fuel distribution and related businesses (&#8220;Ipiranga&#8221; or &#8220;IPP&#8221;), storage services for liquid bulk (&#8220;Ultracargo&#8221;) and logistics and waterway and multimodal infrastructure (&#8220;Hidrovias&#8221;).&#160; The information on segments is disclosed in Note 25.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">This interim financial information was authorized for issuance by the Board of Directors on November 12, 2025.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">a. Principles of consolidation and interest in subsidiaries </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a.1 Principles of consolidation</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In the preparation of the consolidated interim financial information the investments of one company in another, balances of asset and liability accounts, revenue transactions, costs and expenses were eliminated, as well as the effects of transactions conducted between the companies. Non-controlling interests in subsidiaries are presented within consolidated equity and net income.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Consolidation of a subsidiary begins when the Company obtains direct or indirect control over an entity and ceases when the company loses control. Income and expenses of a subsidiary acquired are included in the consolidated statements of income and of comprehensive income from the date the Company gains control. Income and expenses of a subsidiary, in which the Company loses control, are included in the consolidated statements of income and of comprehensive income until the date the Company loses control.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">When necessary, adjustments are made to the financial information of subsidiaries to bring their accounting policies into line with the Company&#8217;s accounting policies.</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">16</font></font></td>













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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























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<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a.2 Interest in subsidiaries</font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The consolidated interim financial information includes the following direct and indirect subsidiaries:</font></p>
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Interest % rounded</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















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<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Control</font></p>
















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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Direct</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Indirect</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Direct</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Indirect</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 35%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Ultra Mobilidade S.A. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(1)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga </font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 1%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; width: 10%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.45pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Centro de Conveni&#234;ncias Millennium Ltda. and subsidiaries </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(2)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga </font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.45pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">am/pm Comest&#237;veis Ltda.</font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;"> (3)</font></font></p>
















</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 18.05pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Glazed Brasil S.A. (&#8220;Krispy Kreme&#8221;)</font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">55</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 18.05pt; break-after: avoid; break-inside: avoid; line-height: 1;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Centro de Conveni&#234;ncias Millennium Ltda. and subsidiaries </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(2)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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</td>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















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<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















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</td>
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</tr>
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</td>
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</td>
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Companhia Ultragaz S.A.</font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz Energia Ltda. and subsidiaries</font></p>
















</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 22pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nova Paran&#225; Distribuidora de G&#225;s Ltda.</font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 22pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Uting&#225;s Armazenadora S.A.</font></p>
















</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">57</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">57</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Bahiana Distribuidora de G&#225;s Ltda. </font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">NEOg&#225;s do Brasil G&#225;s Natural Comprimido S.A</font><font style="vertical-align: super; line-height: inherit;">.</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>














</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">WTZ Participa&#231;&#245;es S.A. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(6)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Ultragaz Comercializadora de Energia Ltda. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(6)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.75pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 20.8pt; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Ultragaz Energia e Corretagem de Seguros Ltda. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(6)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">UVC Investimentos Ltda.</font></p>
















</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: 11pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultra Log&#237;stica Ltda.</font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Hidrovias do Brasil S.A. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(7)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">55</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.45pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil &#8211; Vila do Conde S.A. </font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.45pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Hidrovias do Brasil &#8211; Cabotagem Ltda. </font><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(8)</font></font></p>
















</td>
<td style="padding: 0px; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10.45pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil &#8211; Administra&#231;&#227;o Portu&#225;ria de Santos S.A.</font></p>
















</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
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</td>
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</td>
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</tr>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</tr>
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 22px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
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</td>
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</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</tr>
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</td>
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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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</td>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















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<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: right; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























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<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(1)</font><font style="line-height: inherit;"> On January 2, 2025, the name of subsidiary Ultrapar Mobilidade Ltda. was changed to Ultra Mobilidade S.A.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(2)</font><font style="line-height: inherit;"> On January, 2025, indirect subsidiary Centro de Conveni&#234;ncias Millenium and subsidiaries started being directly controlled by am/pm Comest&#237;veis Ltda.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(3)</font><font style="line-height: inherit;"> On January, 2025, indirect subsidiary am/pm Comest&#237;veis Ltda. started being directly controlled by Ultra Mobilidade S.A.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(4)</font><font style="line-height: inherit;"> Company established on May 5, 2025, engaged in the wholesale trade of fuel carried out by carrier-reseller-retailer (TRR).</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(5)</font><font style="line-height: inherit;"> In July 2025, subsidiary Neodiesel Ltda. became the controlling shareholder of Mi TRR </font><font style="line-height: inherit;">Transportadora retalhista e revendedora de combust&#237;veis S.A. (&#8220;Mi TRR&#8221;)</font><font style="line-height: inherit;">.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(6)</font><font style="line-height: inherit;"> In August 2025, WTZ Participa&#231;&#245;es S.A. was merged into </font><font style="line-height: inherit;">Ultragaz Comercializadora de Energia Ltda., formerly Exponencial Energia Ltda. In July 2025, Ultragaz Energia e Corretagem started being controlled by Ultragaz Comercializadora de Energia Ltda.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(7)</font><font style="line-height: inherit;"> In May 2025, subsidiary Ultra Log&#237;stica Ltda. became the controlling shareholder of Hidrovias. For further details, see Note 27.b.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(8) </font><font style="line-height: inherit;"> The information on </font><font style="line-height: inherit;">Hidrovias do Brasil &#8211; Cabotagem </font><font style="line-height: inherit;">is presented as Discontinued Operation according to Note 28.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(9)</font><font style="line-height: inherit;"> In January, 2025, indirect subsidiary Ultracargo Log&#237;stica S.A started being directly controlled by Ultrapar.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Main events that occurred in the period</font></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b.1 Acquisition of significant ownership interest in Hidrovias</font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On May 8, 2025, the Company, through its subsidiary Ultra Log&#237;stica, acquired additional shares in Hidrovias do Brasil S.A. (&#8220;Hidrovias&#8221;), becoming the controlling shareholder.&#160; As of September 30, 2025, the ownership interest in this investee&#8217;s share capital was 55.04% (41.94% as of December 31, 2024).&#160; For further information, see Note 27.b.</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB13_6102025113632724"><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">2. Basis of preparation and presentation of individual and consolidated interim financial information </font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The individual and consolidated interim financial information ("interim financial information"), identified as Parent and Consolidated, was prepared in accordance with the International Accounting Standard ("IAS") 34 &#8211; Interim Financial Reporting issued by the International Accounting Standards Board ("IASB"), and in accordance with the pronouncement CPC 21 (R1) &#8211; Interim Financial Reporting, issued by the Brazilian Accounting Pronouncements Committee (&#8220;CPC&#8221;), approved by the Brazilian Federal Accounting Council (&#8220;CFC&#8221;) and presented in accordance with the rules issued by the Securities and Exchange Commission of Brazil (&#8220;CVM&#8221;).</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company&#8217;s interim financial information is presented in thousands of Brazilian Real (&#8220;R$&#8221;), which is the Company&#8217;s functional currency, and the interim financial information was prepared using information from Ultrapar and its subsidiaries on the same base date, unless otherwise stated. </font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The preparation of the interim financial information requires management to make judgments, use estimates and adopt assumptions in the application of accounting policies that affect the reported amounts of income, expenses, assets and liabilities, including contingent liabilities. The uncertainty related to these judgments, assumptions and estimates could lead to results that require a significant adjustment to the carrying amount of certain assets and liabilities in future years. For the nine-month period ended September 30, 2025, no changes were observed in such judgments, estimates and assumptions in relation to those disclosed as of December 31, 2024.</font></p>















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<p style="margin: 2pt 0pt 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The interim financial information has been prepared on a historical cost basis, except for the following material items recognized in the statements of financial position:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 0pt 53.4pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18pt; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: normal; vertical-align: baseline; line-height: inherit;">(i)</font><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160;&#160;&#160;&#160;&#160; </font><font style="line-height: inherit;">derivative and non-derivative financial instruments measured at fair value;</font></font></p>
<p style="margin: 0pt 0pt 0pt 53.4pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18pt; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: normal; vertical-align: baseline; line-height: inherit;">(ii)</font><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160; &#160; &#160;</font><font style="line-height: inherit;">share-based payments and employee benefits measured at fair value;</font></font></p>
<p style="margin: 0pt 0pt 0pt 53.4pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18pt; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: normal; vertical-align: baseline; line-height: inherit;">(iii)</font><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160; &#160;&#160;</font><font style="line-height: inherit;">deemed cost of property, plant and equipment.</font></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">This interim financial information was prepared using consistent accounting policies and practices on Ultrapar and its subsidiaries.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">This interim financial information should be read together with the individual and consolidated financial statements of the Company for the year ended December 31, 2024 since its objective is to provide an update of the significant activities, events and circumstances and does not duplicate previously disclosed information, except when Management considers it relevant to maintain certain information.</font></p>






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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Reclassifications</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">With the objective of increasing transparency of derivative financial instrument balances, enabling verification of the amounts in the balance sheet and providing greater comparability between the periods presented, we carried out reclassifications between line items as shown below:</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 238px; width: 100%;" width="100%">

<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td colspan="5" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>
















</td>














</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Published</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reclassified</font></p>
















</td>














</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reclassification</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 67%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current assets (i)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 1%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 1%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 1%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments, derivative instruments and other financial assets</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,553,011</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,553,011)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments and other financial assets</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,306,927</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,306,927</font></p>
















</td>














</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">246,084</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">246,084</font></p>
















</td>














</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,553,011</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,553,011</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current assets (i)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments, derivative instruments and other financial assets</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,407,080</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,407,080)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments and other financial assets</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,819,179</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,819,179</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">585,294</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">585,294</font></p>
















</td>














</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables and other assets</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,469</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,607</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">117,076</font></p>
















</td>














</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,521,549</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,521,549</font></p>
















</td>














</tr>































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font> </p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 272px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Published</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reclassified</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reclassification</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 67%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current liabilities (ii)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,175,017</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,175,017)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">377,743</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(377,743)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and debentures</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,478,673</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,478,673</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,087</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,087</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,552,760</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,552,760</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current liabilities (ii)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,393,232</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,393,232)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,356,118</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,356,118)</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and debentures</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,381,837</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,381,837</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">367,513</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">367,513</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10,749,350</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10,749,350</font></p>
















</td>














</tr>































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 5%; vertical-align: top; text-align: center;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 95%;"><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: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Financial investments that until the first quarter were disclosed together with derivative financial instrument assets are now disclosed under separate line items in the statement of financial position;</font></td>














</tr>
<tr>
<td style="width: 5%;"><br></td>
<td style="width: 95%;"><br></td>














</tr>
<tr>
<td style="vertical-align: top; text-align: center; width: 5%;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="width: 95%;"><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: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Loans and financing that until the previous quarter were disclosed under separate line items of debentures were consolidated and are now disclosed under the same line item; additionally, derivative financial instrument liabilities that were disclosed on a consolidated basis together with loans and financing are now disclosed under separate line items in the statement of financial position;</font></td>














</tr>





























</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><br></p>






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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">19</font></font></td>













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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























</tr>
















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB14_6102025113642260"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3. New accounting policies and changes in accounting policies </font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company evaluated and, when necessary, applied for the first time the new standards and interpretations issued by the International Accounting Standards Board (IASB) and the Brazilian Accounting Pronouncements Committee (&#8220;CPC&#8221;).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt 0pt 0pt 18.2pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18.2pt; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold; line-height: inherit;">a.</font><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160;&#160;&#160;&#160;&#160; </font><font style="font-style: italic; font-weight: bold; line-height: inherit;">New accounting policies and changes in accounting policies</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a.1 Accounting policies adopted</font><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The following amendments to standards and guidance issued by the IASB and CPC effective on or after January 1, 2025 were evaluated and do not change the accounting practice adopted by the Company:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">&#8226;</font><font style="line-height: inherit;">&#160;&#160;&#160;&#160; </font><font style="line-height: inherit;">OCPC 10 &#8211; Carbon Credits</font></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">&#8226;</font><font style="line-height: inherit;">&#160;&#160;&#160;&#160; </font><font style="line-height: inherit;">IAS 21/ CPC 02 &#8211; The Effects of Changes in Foreign Exchange Rates</font></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a.2 Accounting policies not adopted</font><br></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The following new standards, amendments to standards and interpretations of IFRS Accounting Standards issued by the International Accounting Standards Board - IASB were not adopted since they are not effective in the period ended September 30, 2025. The Company and its subsidiaries plan to adopt these new standards, amendments and interpretations, if applicable, when they become effective.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#8226;&#160;&#160;&#160;&#160; IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#8226;&#160;&#160;&#160;&#160; IFRS 18 &#8211; Presentation and Disclosure in Financial Statements</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#8226;&#160;&#160;&#160;&#160; IFRS 19 &#8211; Subsidiaries without Public Accountability</font></p>















</div>
<div>
<p style="margin: 2pt 0pt 0pt; text-align: justify; line-height: 1.2;"><br></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB15_6102025113649378"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4. Cash and cash equivalents and financial investments</font></a></div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash equivalents and financial investments, excluding cash and bank deposits, are substantially represented by investments: (i) in Brazil, in certificates of deposit of financial institutions linked to interest rate of the Interbank Deposits (&#8220;DI&#8221;), in repurchase agreement, financial bills, private securities and in short-term investment funds, whose portfolio is comprised of Brazilian Federal Government bonds and certificates of deposit of financial institutions; (ii) outside Brazil, in certificates of deposit of financial institutions and in short-term investment funds, whose portfolio is comprised of Federal Government bonds. </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="font-style: italic; font-weight: bold; line-height: inherit;">a.&#160;</font><font style="font-style: italic; font-weight: bold; line-height: inherit;">Cash and cash equivalents</font></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 163px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and banks</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In local currency</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">788</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">120</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">301,388</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">211,047</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In foreign currency</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">508,874</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">194,793</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments considered cash equivalents</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In local currency</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,121</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,066</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,007,837</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,286,152</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In foreign currency</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">715,951</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">379,601</font></p>
















</td>














</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total cash and cash equivalents</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,909</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,186</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,534,050</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,071,593</font></p>
















</td>














</tr>































</table>
<p style="margin: 0pt;"><br></p>







</div>






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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class="pageno">20</font></font></td>






</tr>













</table>






</div>
<div>
<div><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>























</tr>
















































</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Financial investments</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 139px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 20.9839%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 20.9839%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>
















</td>














</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In local currency</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">371,580</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">320,101</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,486,281</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,271,980</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In foreign currency <font style="font-size: 8pt;"><sup>(a)</sup></font></font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,612,573</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,854,126</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total financial investments</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">371,580</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">320,101</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,098,854</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,126,106</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,580</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,100</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,489,624</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,306,927</font></p>
















</td>














</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 56.9562%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">355,000</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">300,001</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,609,230</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.999231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99231%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,819,179</font></p>
















</td>














</tr>































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-indent: -14.2pt; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><sup>(a)</sup><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160;&#160;&#160; </font>Refers substantially to financial investments made by subsidiary Ultrapar International in Time Deposits.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB16_6102025113658170"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5. Trade receivables and reseller financing (Consolidated)</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Trade receivables and reseller financing</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 306px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade receivables</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Domestic customers</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,944,949</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,885,310</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Domestic customers - related parties (see Note 8)</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,347</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 301</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign customers</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 153,294</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 19,032</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign customers - related parties (see Note 8)</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,769</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 8,361</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,104,359</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,913,004</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(-) Allowance for expected credit losses</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (372,232)</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (345,735)</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total - trade receivables of customers</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,732,127</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,567,269</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,696,699</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,540,266</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 35,428</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 27,003</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Reseller financing</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reseller financing</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,411,089</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,404,883</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(-) Allowance for expected credit losses</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(133,336)</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(126,859)</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total &#8211; reseller financing</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,277,753</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,278,024</font></p>
















</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">515,715</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">511,979</font></p>
















</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">762,038</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">766,045</font></p>
















</td>














</tr>































</table>
<p style="margin: 0pt;"><br></p>
<div><br></div>






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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class="pageno">21</font></font></td>






</tr>













</table>
<div><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>























</tr>
















































</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Allowance for expected credit losses &#8211; trade receivables and reseller financing</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Movements in the allowance for expected credit losses of trade receivables and reseller financing<font style="line-height: inherit;">&#160;</font></font><font style="line-height: inherit;">are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 113px; width: 100%;">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Trade receivables</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reseller financing</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 68%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">345,735</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">126,859</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">472,594</font></p>














</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Additions</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">81,232</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,772</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104,004</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reversals</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36,235)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,688)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(45,923)</font></p>














</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Write-offs</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(30,952)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,607)</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(37,559)</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Opening balance - acquisition of subsidiary <font style="font-size: 8pt;"><sup>(i)</sup></font></font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,452</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,452</font></p>














</td>














</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">372,232</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">133,336</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: right; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">505,568</font></p>














</td>














</tr>





























</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><sup>(i)</sup> On May 8, 2025, the Company acquired the control of Hidrovias.; for further details, see Note 27.b.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below presents information on credit risk exposure, resulting from balances of trade receivables and reseller financing.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 146px;">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>














</td>














</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average rate of expected losses</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Gross accounting balance</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Allowance for expected credit losses</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average rate of expected losses</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Gross accounting balance</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Allowance for expected credit losses</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 35%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.51%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,446,654</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,576</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.55%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,289,620</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,517</font></p>














</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Less than 30 days</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.76%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">89,758</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,376</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.14%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">141,756</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,452</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31-60 days</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24.39%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30,112</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,345</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20.26%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">40,402</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,186</font></p>














</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61-90 days</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11.38%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32,057</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,647</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.96%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,360</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,093</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91-180 days</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28.92%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">51,260</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,823</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30.37%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">57,289</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,396</font></p>














</td>














</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">More than 180 days</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52.43%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">865,607</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">453,801</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54.49%</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">761,460</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">414,950</font></p>














</td>














</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,515,448</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">505,568</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,317,887</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><font style="font-family: 'times new roman', times;">472,59</font><font style="font-family: 'times new roman', times;">4</font></font></p>














</td>














</tr>





























</table>
<p style="margin: 0pt; text-align: justify;"><br></p>






</div>














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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">22</font></font></td>













</tr>



























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>























</tr>
















































</table>






</div>






<a href="#TOC"><br></a></div>













</div>














</div><div id="Dgofhh26g4lhf8w75eg6gz" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify; line-height: 1.2;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_1_6102025112349665"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6. Inventories (Consolidated)</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 139px; width: 100%;">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>


















</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 78%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Fuels, lubricants and greases</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,957,286</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,009,100</font></p>





















</td>


















</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Raw materials</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">290,642</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">373,544</font></p>





















</td>


















</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Purchase for future delivery&#160;<font style="vertical-align: super; font-size: 8pt; line-height: inherit;">(1)</font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">111,348</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 19px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">255,001</font></p>





















</td>


















</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Consumable materials and other items for resale</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">304,354</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">129,539</font></p>





















</td>


















</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Liquefied petroleum gas - LPG</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">141,260</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">128,098</font></p>





















</td>


















</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Properties for resale</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,192</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,794</font></p>





















</td>


















</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,824,082</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,917,076</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers substantially to ethanol, biodiesel and advances for fuel acquisition.</font></td>
















</tr>

































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="vertical-align: super; line-height: inherit;">&#160;</font></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Movements in the provision for inventory losses are as follows:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 90%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,920</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reversal of provision for obsolescence and other losses</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,166)</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reversal of provision for adjustment to realizable value</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(743)</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,011</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt;"><br></p>




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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">23</font></font></td>













</tr>



























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<p style="margin: 0pt;"><br></p>




</div>
<div style="line-height: 1.2;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>

























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>

























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>

























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>

























</tr>




















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_2_6102025112412607"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7. Recoverable taxes (Consolidated)</font></a></div>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Recoverable taxes</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable taxes are substantially represented by credits of Tax on Goods and Services (&#8220;ICMS&#8221;, the Brazilian VAT), Contribution for Social Security Financing (&#8220;COFINS&#8221;) and Social Integration Program (&#8220;PIS&#8221;).</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 112px; width: 100%;">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">ICMS (a.1)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,377,273</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,416,708</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">PIS and COFINS - Federal VAT (a.2)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,844,831</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,172,417</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">105,345</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">101,152</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,327,449</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,690,277</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,713,727</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,040,008</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,613,722</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,650,269</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 0pt 0pt 0pt 14.2pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 0pt 17pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -17pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">a.1</font>&#160;The recoverable ICMS net of provision for losses is substantially related to the following operations:</font></p>
<p style="margin: 0pt 0pt 0pt 42.5pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 12pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax credits are recognized mainly of the following nature: a) transactions of inputs and outputs of products subject to taxation of the own ICMS; b) interstate outflows of oil-related products, whose ICMS was prepaid by the supplier (Petrobras); c) credits for refunds of the ICMS-ST (tax substitution) overpaid when the estimated calculation base used is higher than that of the actual operation performed.</font></p>


















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In 2023, with the enactment of Supplementary Law 192/22, the single-phase ICMS levy on LPG, diesel, biodiesel, gasoline and anhydrous ethanol became effective. Due to the advent of this new calculation modality, the subsidiaries have stopped generating credits related to the refunds of ICMS-ST (tax substitution).</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Management estimates the realization of the credits classified in non-current assets within a term of up to 5 years.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">a.2</font>&#160;The recoverable PIS and COFINS are substantially related to:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 12pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">ICMS in the PIS and COFINS calculation basis -&#160;</font>The balance of PIS and COFINS includes credits recorded under Laws 10,637/02 and 10,833/03, as well as amounts arising from a STF&#8217;s favorable decision (Theme 69) regarding the exclusion of ICMS from the PIS and COFINS calculation basis.</font></p>
<p style="margin: 5pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In the period ended September 30, 2025, the Company, through its subsidiary Ipiranga, recognized effects from tax credits of R$ 1,152,890 (R$ 672,572 under &#8220;other operating income (expenses) and R$ 480,318 under &#8220;financial income&#8221;), relating to the periods from November 2008 to December 2024, arising from supplementary calculations (specific regime operations) related to final and unappealable decisions of lawsuits.</font></p>
<p style="margin: 5pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Supplementary Law 192 -</font>&#160;On March 11, 2022 Supplementary Law (&#8220;LC&#8221; 192/22&#8221;) was published to reduce the tax burden of the fuel supply chain. Art. 9 of said law established the reduction of the PIS and COFINS tax rates levied on diesel, biodiesel and LPG to zero through December 31, 2022, ensuring at the same time the maintenance of credits taken across the whole supply chain up to September 21, 2022 (90 days after the publication of LC 194/22 that restricted the right to take credits on taxpayers), when it became effective.</font></p>
<p style="margin: 5pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company, through its subsidiaries, has credits in the amount of R$ 981,089 (R$ 1,686,836 as of December 31, 2024) from the LC 192/22. These credits were recorded considering the expectation of realization by the Company within a 5-year period from the date of generation, period in which the Company has the ability to use these credits. The estimated realization is updated annually considering the estimated future results.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Recoverable income and social contribution taxes</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Relates to IRPJ and CSLL to be recovered by the Company and its subsidiaries, arising from the tax advances of previous years, as well as referring to lawsuits on the non-levy of IRPJ and CSLL on the monetary variation (SELIC) in the repetition of undue payments. The Company, through its subsidiaries, has a recoverable IRPJ and CSLL balance of R$ 588,812, of which R$ 278,579 recorded as current and R$ 310,233 recorded as non-current (R$ 498,067, of which R$ 151,930 recorded as current and R$ 346,137 recorded as non-current as of December 31, 2024). The Management estimates the realization of these credits within up to 5 years.</font></p>


















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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">24</font></font></td>













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</div>
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<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























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</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_3_610202511242651"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">8. Related parties</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Parent</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 57%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Transactions with joint ventures</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Transactions with subsidiaries</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,895</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50,548</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">306</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">431</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cia&#160;Ultragaz&#160;S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,510</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28,588</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,761</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo&#160;Log&#237;stica&#160;S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">326,321</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">313,873</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">312</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,964</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">160</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ea&#237;&#160;Clube Automobilista S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">644</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,008</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">78</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">am/pm&#160;Comest&#237;veis&#160;Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,975</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,079</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Imaven&#160;Im&#243;veis&#160;Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">285</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,033</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">966</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit; font-weight: bold;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">414,342</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">400,062</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,999</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5,175</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables/payables</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">87,070</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">86,973</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,124</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,300</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,518</font></p>





















</td>
<td style="vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,076</font></p>





















</td>
<td style="vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments&#160;<font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(1)</font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">319,754</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">306,013</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; vertical-align: super; line-height: inherit;">(1)</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to funds released to subsidiary Ultracargo Log&#237;stica S.A.</font></td>
















</tr>

































</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>




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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">25</font></font></td>








</tr>

















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>








</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Consolidated</font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Balances and transactions between the Company and its subsidiaries have been eliminated in consolidation and are not disclosed in this Note. The balances and transactions between the Company and its subsidiaries with other related parties are highlighted below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 441px;">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>





















</td>
<td style="vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Operating result - Sales/(Purchases)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>





















</tr>
<tr style="height: 32px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 35%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Transactions with subsidiaries and joint ventures</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 32px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Transactions with joint ventures</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,466</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,846</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(490,264)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(323,104)</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Latitude Log&#237;stica Portu&#225;ria S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,767</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,862</font></p>





















</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,064</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,079</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,434</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(195,548)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(148,937)</font></p>





















</td>





















</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Chevron Products Company<font style="vertical-align: super; line-height: inherit;">&#160;<font style="font-size: 8pt;">(1)</font></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,133</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">159,432</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(482,447)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(517,282)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,166</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,760</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,821</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,449</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,124</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,638)</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">97,513</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">57,387</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">164,374</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">187,036</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(1,166,820)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-top-width: 1px; border-top-style: solid; border-bottom-color: #000000 !important; border-top-color: #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(992,654)</font></p>





















</td>





















</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables (Note 5)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,116</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,662</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">416</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables (Note 16)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">161,499</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">183,520</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,394</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,309</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,516</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sales and services provided</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">35,320</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,887</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Purchases</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,202,140)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,005,541)</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><sup>(1)</sup>&#160;</font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Non-controlling shareholders and other related parties of Iconic.</font></td>
















</tr>

































</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Purchase and sale transactions relate substantially to the purchase of raw materials, feedstock, transportation, and storage services based on prices and terms negotiated between the parties, with customers and suppliers with comparable operational performance.</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Key executives (Consolidated)</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Ultrapar&#8217;s compensation policy and practices are designed to align short and long-term interests with shareholders and the Company&#8217;s sustainability. The short and long-term variable compensation is linked to growth goals in results and generated economic value, aligned with shareholders&#8217; interests. Variable compensation also directs the professionals&#8217; focus to the strategic plan approved by the Board of Directors, and is linked to annual growth goals in financial results and priority matters for the Company.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>


















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The expenses for compensation of its key executives (Company&#8217;s directors and executive officers) are shown below:</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>


















</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Short-term compensation</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31,465</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,465</font></p>





















</td>


















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Stock compensation</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">55,400</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44,480</font></p>





















</td>


















</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Post-employment benefits</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,447</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,728</font></p>





















</td>


















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">89,312</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">87,673</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; vertical-align: super; line-height: inherit;">&#160;</font></p>





</div>




</div>




</div>
<div style="line-height: 1.2;">
<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">26</font></font></td>








</tr>

















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>








</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>


















</div>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<div style="line-height: 1.2;">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">d. Stock plan (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The financial statements for the year ended December 31, 2024 (Note 8) disclose the features and measurement criteria of each plan (2017 Plan and 2023 Plan) offered by the Company, which did not undergo any changes during the nine-month period ended September 30, 2025. In the&#160;interim&#160;financial&#160;information&#160;for the period ended September 30, 2025 of subsidiary Hidrovias, Note 20.2 discloses the features and measurement criteria of the 1st long-term share-based incentive plan (&#8220;2025 Plan&#8221;), approved by Hidrovias&#8217; Board of Directors on June 23, 2025, with the first grant awarded on July 1, 2025.</font></p>


















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 12pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below summarizes the restricted and performance stock programs under the 2017 Plan and&#160; the 2023 Plan, and the 2025 Plan (Hidrovias):</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 99.9993%;">

<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Company</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Program</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Grant date</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Number of shares granted (Quantity)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Vesting period</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value of shares on the grant date (in R$)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total exercisable grant costs, including taxes (in R$ thousands)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Accumulated recognized exercisable grant costs (in</font><font style="font-weight: bold; line-height: inherit;">&#160;</font><font style="font-weight: bold; line-height: inherit;">R$</font><font style="font-weight: bold; line-height: inherit;">&#160;</font><font style="font-weight: bold; line-height: inherit;">thousands)</font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Unrecognized exercisable grant costs (in</font><font style="font-weight: bold; line-height: inherit;">&#160;</font><font style="font-weight: bold; line-height: inherit;">R$</font><font style="font-weight: bold; line-height: inherit;">&#160;</font><font style="font-weight: bold; line-height: inherit;">thousands)</font></font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">September 2, 2019</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">240,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.42</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,774</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,774)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">September 16, 2020</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">140,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23.03</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,464</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,629)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">835</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">September 22, 2021</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,000,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.17</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,093</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,608)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,485</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Performance</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">April 6, 2022</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,467</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.16</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,116</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,116)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">September 21, 2022</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,640,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2032</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12.98</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">64,048</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(19,170)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44,878</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">December 7, 2022</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,500,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2032</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13.47</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37,711</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,688)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,023</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">April 20, 2023</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,122,656</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.50</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30,560</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25,186)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,374</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Performance</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">April 20, 2023</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,149,057</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.50</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31,320</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25,946)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,374</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">September 20, 2023</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,700,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2033</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18.75</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">129,322</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(26,988)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102,334</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">April 17, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,444,789</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027 to 2029</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.94</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">175,894</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(62,022)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">113,872</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">June 19, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">60,683</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21.47</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,468</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,028)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,440</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">October 1, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,295,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2034</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23.10</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">55,785</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,578)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50,207</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">April 3, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,590,749</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027 to 2028</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17.78</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">153,635</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(20,807)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">132,828</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,890,401</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">718,190</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(227,540)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">490,650</font></p>





















</td>


















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Restricted</font></p>





















</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">July 1, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,244,523</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2028</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.55</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,961</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(412)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,549</font></p>





















</td>


















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,134,924</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">723,151</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(227,952)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">495,199</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 89%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Number of shares as of December 31, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18,521,704</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar shares granted during the period</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,590,749</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cancellation of Ultrapar shares due to termination of executive</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(162,621)</font></p>





















</td>





















</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar shares transferred (vesting)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,059,431)</font></p>





















</td>





















</tr>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias shares granted during the period</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,244,523</font></p>





















</td>





















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<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Number of shares as of September 30, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">22,134,924</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt; font-size: 10pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 8pt; font-size: 10pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company does not have shares that were not transferred after the period for transfer of the ownership of the shares. For the nine-month period ended September 30, 2025, an expense in the amount of R$ 103,187 was recognized in relation to the Plan (R$ 78,245 for the period ended September 30, 2024).</font></p>
<p style="margin: 0pt 0pt 8pt; font-size: 10pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For all plans, settlements are made only with the delivery of treasury shares.</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">27</font></font></td>




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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













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<div style="line-height: 1.2;">
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<div style="width: 8.5in; margin: 0 auto;">
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<div style="line-height: 1.2;">
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























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<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























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<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_4_6102025112442149"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9. Income and social contribution taxes</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Deferred income (IRPJ) and social contribution taxes (CSLL)</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries recognize deferred tax assets and liabilities, which are not subject to the statute of limitations, mainly resulting from provisions for differences between cash and accrual basis, tax loss carryforwards, leasing operations, negative bases and provisions for tax, civil, and labor risks. Deferred tax assets are sustained by the continued profitability of their operations.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For purposes of disclosure, deferred tax assets were offset against deferred tax liabilities, in the same taxable entity.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 464px; width: 100%;">

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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















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<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















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<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















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<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Assets - Deferred income and social contribution taxes on:</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for losses with assets</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">42,016</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">41,467</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provisions for tax, civil and labor risks</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,821</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">67,261</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">159,601</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">188,495</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for post-employment benefits</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">604</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">516</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">80,841</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">76,166</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for differences between cash and accrual basis (i)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,325</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,483</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Goodwill</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,482</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,317</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for asset retirement obligation</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,707</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,472</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operating provisions</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,969</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,366</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,593</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">60,120</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for profit sharing and bonus</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,462</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,246</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69,009</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">76,880</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,568</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,961</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">573,819</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">499,988</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for deferred revenue</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">532</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">450</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other temporary differences</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32,937</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,762</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">212,375</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">115,753</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax losses and negative basis for social contribution carryforwards</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">53,580</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">51,339</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">548,842</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">510,780</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">147,941</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">158,451</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,769,142</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,613,371</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; break-after: avoid; break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Offsetting liability balance</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,011)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(15,821)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(920,515)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(676,430)</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net balances presented in assets</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">138,930</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">142,630</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">848,627</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">936,941</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Liabilities - Deferred income and social contribution taxes on:</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,199</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,586</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">473,864</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">406,173</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for differences between cash and accrual basis (i)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">291,748</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">194,846</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Change in fair value of subscription warrants</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,188</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,611</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,188</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,611</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Goodwill/negative goodwill on investments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28,811</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28,771</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Business combination - fair value of assets</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">567,210</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52,781</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other temporary differences</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,624</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,624</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">189,181</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">119,073</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,011</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,821</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,552,002</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">809,255</font></p>





















</td>


















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Offsetting asset balance</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,011)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(15,821)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(920,515)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(676,430)</font></p>





















</td>


















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 730.083px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net balances presented in liabilities</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 119.99px; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 113.885px; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.5625px; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">631,487</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.48958px; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 85.3438px; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">132,825</font></p>





















</td>


















</tr>








































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%;"><sub><font style="vertical-align: super; line-height: inherit; font-size: 8pt;">(i)</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font></sub></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In the consolidated refers mainly to the income and social contribution taxes on foreign exchange variation of the derivative instruments.</font></td>
















</tr>

































</table>
<p style="margin: 0pt;"><br></p>
<div>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">28</font></font></td>













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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













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<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























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<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























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</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Changes in the net balance of deferred IRPJ and CSLL are as follows:</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">142,630</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">804,116</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred IRPJ and CSLL recognized in profit (loss) for the period</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,700)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(135,431)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred IRPJ and CSLL recognized on company acquisition (1)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,730</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred IRPJ and CSLL recognized on business combinations</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(561,392)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred IRPJ and CSLL recognized in other comprehensive income</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">67,168</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred IRPJ and CSLL recognized in other comprehensive income &#8211; Discontinued operation</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(30,624)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,427)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">138,930</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">217,140</font></p>





















</td>

















</tr>







































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On May 8, 2025, the Company acquired the control and began to consolidate Hidrovias. For further details, see Note 27.b.&#160;</font></td>
















</tr>

































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-size: 8pt;">&#160;</font></font></p>

















</div>
<div style="line-height: 1.2;">
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Reconciliation of income and social contribution taxes on profit or loss</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IRPJ and CSLL are reconciled to the statutory tax rates as follows:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income before taxes</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,148,562</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,526,710</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,168,928</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,354,629</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Statutory tax rates - %</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes at the statutory tax rates</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(730,511)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(519,081)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,077,436)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(800,574)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Adjustment to the statutory income and social contribution taxes:</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nondeductible expenses</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,814)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,189)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(29,770)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,683)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nontaxable revenues (i)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">472</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">414</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">194,321</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,105</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Adjustment to estimated income</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,359</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,658</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Unrecorded deferred income and social contribution tax loss carryforwards</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(127,356)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,842)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">718,736</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">512,872</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,782)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,080)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest on capital between subsidiaries</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,975</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">35,901</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Difference of rate in the measurement of taxes</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,783</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other adjustments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,882</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,245</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">68,859</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,010)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes before tax incentives</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,235)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,739)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(913,047)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(784,525)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax incentives &#8211; SUDENE (ii)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">53,730</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,977</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes in the statement of income</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,235)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,739)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(859,317)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(709,548)</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,535)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,519)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(723,886)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(760,375)</font></p>





















</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,700)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,780</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(135,431)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50,827</font></p>





















</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Effective IRPJ and CSLL rates - %</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.2</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.4</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27.1</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30.1</font></p>





















</td>

















</tr>







































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">(i)</sup></font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font></td>
<td style="width: 97%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Consist of gains and income not taxable under the applicable tax legislation.</font></td>

















</tr>
<tr>
<td valign="top" style="vertical-align: top;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; vertical-align: super; line-height: inherit;">(ii)</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; vertical-align: super; line-height: inherit;">&#160;</font></font></td>
<td valign="top" style="vertical-align: top;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Certain subsidiaries have the benefit of income tax reduction for belonging to the sectors of the economy considered priority for the subsidized areas, with a 75% decrease in the income tax basis.</font></td>

















</tr>



































</table>

















</div>
<div style="line-height: 1.2;"><br></div>




</div>




</div>
<div style="line-height: 1.2;">
<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">29</font></font></td>













</tr>



























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Tax losses and negative basis for social contribution carryforwards</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As of September 30, 2025, the Company and certain subsidiaries had tax loss carryforwards related to income tax (IRPJ) and social contribution (CSLL), whose annual offsets are limited to 30% of taxable income in a given tax year, and do not expire.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The balances comprising deferred taxes related to income tax loss carryforwards and negative basis of social contribution are as follows:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 79%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Oil Trading</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,119</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">77,155</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">53,580</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">51,339</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">300,409</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">300,409</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo Solu&#231;&#245;es Log&#237;stica</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,098</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">33,553</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil &#8211; Holding S.A</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,149</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,487</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,324</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">548,842</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">510,780</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The balances which are not constituted of deferred taxes related to income tax loss carryforwards and negative basis of social contribution are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 79%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Neog&#225;s</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,221</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,286</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Integra Frotas</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,702</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,927</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Stella</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25,659</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,686</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Millennium</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,337</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,650</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Abastece a&#237;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">154,791</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">126,900</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil &#8211; Holding S.A</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">150,458</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil &#8211; Administra&#231;&#227;o Portu&#225;ria de Santos</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">41,529</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,942</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,374</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">465,639</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">224,823</font></p>





















</td>
















</tr>






































</table>
















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_5_61020251125750"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10. Contractual assets with customers - exclusivity rights (Consolidated)</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Refers to exclusivity rights reimbursements of Ipiranga&#8217;s agreements with reseller service stations that are recognized at the time of their occurrence and amortized according to the conditions established in the agreement. Amortizations are recognized in profit or loss as reductions of sales revenue.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Changes are shown below:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,131,902</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Additions</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">343,756</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(339,336)</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,136,322</font></p>





















</td>
















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">662,929</font></p>





















</td>
















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,473,393</font></p>





















</td>
















</tr>






































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





</div>




</div>




</div>
<div style="line-height: 1.2;">
<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">30</font></font></td>













</tr>



























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top">
<p><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></p>
<p><font style="font-size: 10pt;"><br></font></p>














</td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
















</div>
<div style="line-height: 1.1;">
<p style="margin: 0px; text-indent: 0px;"><br></p>
<div style="margin: 0pt; background-color: #002060; break-after: avoid; break-inside: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_6_6102025112520419"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11. Investments in subsidiaries, joint ventures and associates</font></a></div>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below presents the positions of equity and income (loss) for the period by company:</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Equity</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Income (loss) for the year</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Interest in share capital - %</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Investment (Provision for loss on investment)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Subsidiaries</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultra Log&#237;stica Ltda. <font style="font-size: 8pt;"><sup>(i)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,018,475</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,885</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,018,475</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,266,345</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,885</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">269,203</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar International S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(55,073)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,457</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(55,073)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(68,530)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,457</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,782)</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">UVC</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,021)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz Participa&#231;&#245;es Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="vertical-align: bottom; width: 141.656px; background-color: #cceeff;">
<p style="margin: 0pt 2.7pt 0pt 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">372,263</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo Log&#237;stica Ltda</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,617,381</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">168,417</font></p>





















</td>
<td style="vertical-align: bottom; width: 141.656px;">
<p style="margin: 0pt 2.7pt 0pt 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99.92</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,616,072</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">168,280</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Companhia Ultragaz S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">987,315</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">485,568</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99.99</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">987,168</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,106,687</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">485,497</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">233,855</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">UVC Investimentos Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54,403</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,361)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54,403</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,702</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,361)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">516</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Imaven Im&#243;veis Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">82,543</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,719</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">82,543</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">64,917</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,719</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,316</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultra Mobilidade S.A. <font style="font-size: 8pt;"><sup>(*)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,828,395</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,459,084</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,828,395</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,407,480</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,459,084</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">653,719</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Joint ventures</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,683</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,342</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,319</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(161)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Refinaria de Petr&#243;leo Riograndense S.A. <font style="font-size: 8pt;"><sup>(ii)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(101,290)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(110,182)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">33.14</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(33,566)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,016</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36,637)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(13,462)</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total (A)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15,501,759</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14,829,936</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,113,930</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,508,446</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total provision for loss on investment (B)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(88,639)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(68,530)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; width: 461.292px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total investments (A-B)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 76.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 106.312px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 133.656px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15,590,398</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.5417px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14,898,466</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 4.27083px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 86.2917px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88.7812px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amounts adjusted for unrealized profits in equity and income for the period.</font></td>
















</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; line-height: inherit;">&#160;</font></font></td>
<td><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Balances are presented net of the effects of discontinued operations. For<font>&#160;</font></font>furhter<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>details, see note 28.</font></td>
















</tr>
<tr>
<td style="vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></td>
<td><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Investment considers capital loss balances of R$ 8,993 as of September 30, 2025 (R$ 9,666 as of December 31, 2024).</font></td>
















</tr>

































</table>
<p style="margin: 0px; text-indent: 0px;"><br></p>





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</div>
<div style="line-height: 1.1;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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













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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>






</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<p style="margin: 0px; text-indent: 0px;"><br></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 608px; width: 100%;">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















</td>





















</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Equity</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Income (loss) for the year</font></p>





















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Interest in share capital - %</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Investment (Provision for loss on investment)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>





















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 29%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Joint ventures</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Uni&#227;o Vopak &#8211; Armaz&#233;ns Gerais Ltda.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(515)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,055)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(258)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">270</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(528)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(598)</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(101,290)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(110,182)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.14</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(33,566)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,015</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(36,637)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(13,462)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Latitude Log&#237;stica Portu&#225;ria S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(2,196)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(6,645)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,098)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,225</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(3,323)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,931)</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Navegantes Log&#237;stica Portu&#225;ria S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(4,475)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(26,568)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,492)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">7,364</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(8,856)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(6,191)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Nordeste Log&#237;stica I S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">10,082</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(8,882)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,361</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">5,959</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(2,961)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(739)</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Nordeste Log&#237;stica II S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">55,091</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,256)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">18,364</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">18,782</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(418)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,369</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Nordeste Log&#237;stica III S.A</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">53,327</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,647)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">17,776</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">18,330</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(548)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">591</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,683</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">12</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,342</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,319</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(159)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Terminal de Combust&#237;veis Paul&#237;nia S.A. ("Opla")</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">167,042</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,015</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">83,521</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">59,694</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,008</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,019</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Limday S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">28,362</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,751</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">44.55</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">12,635</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,116</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Obrinel S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">204,450</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">56,689</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">49.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">100,181</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">27,778</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Baden S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19,775</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,114)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">50.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9,888</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(557)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Other investments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">346</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">281</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Associates</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Hidrovias do Brasil S.A. <sup>(i)</sup></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,273,439</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(247,290)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">44.51</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">504,629</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(96,480)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9,112</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Transportadora Sulbrasileira de G&#225;s S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">18,266</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,635</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">25.00</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,566</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,498</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,659</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,510</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Metal&#250;rgica Plus S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,264)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(219)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(421)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(349)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(73)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(68)</font></p>





















</td>





















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Plenog&#225;s Distribuidora de G&#225;s S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,002</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">265</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33.33</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">334</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,041</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">88</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">577</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Other investments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">28</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">41</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Goodwill on investments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Terminal de Combust&#237;veis Paul&#237;nia S.A. ("Opla")</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">117,306</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">117,306</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Hidrovias do Brasil S.A. <sup>(i)</sup></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">775,044</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Limday S.A.</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
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</td>





















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Advances for future capital increase</font></p>





















</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
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</td>





















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Hidrovias do Brasil S.A. <sup>(i)</sup></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">500,000</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total (A)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">468,816</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,148,284</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(116,934)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(9,059)</font></p>





















</td>





















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total provision for loss on investment (B)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(36,835)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(349)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total investments (A-B)</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">505,651</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,148,633</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt 0pt 0pt 35.7pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">(i)</font></sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; line-height: inherit;">&#160;</font></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On May 8, 2025, the Company acquired the control and began to consolidate<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. For further details, see Note 27.b. The percentage of interest presented in the note refers to the last percentage before the acquisition of control.</font></td>
















</tr>
<tr>
<td style="vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></td>
<td><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount refers to the advance for the acquisition of<font>&#160;</font></font>P&#227;o<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>de<font>&#160;</font></font>A&#231;&#250;car<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>Group service stations by subsidiary<font>&#160;</font></font>Centro<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>de<font>&#160;</font></font>Conveni&#234;ncias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Millenium<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Ltda<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -23.8px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>
















</tr>

































</table>
<p style="margin: 0pt 0pt 0pt 35.7pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -17.85pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160; &#160; &#160;&#160;</font></font></p>




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

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













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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>













</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The financial position and income of subsidiaries which have relevant non-controlling interests is shown below:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Proportion of interest in share capital and voting rights held by non-controlling interests</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Equity attributable to non-controlling interests</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Income allocated to non-controlling interests for the period</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 38%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Subsidiaries</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias do Brasil S.A.<font style="font-size: 8pt;"><sup> (i)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,510,336</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25,228</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Iconic Lubrificantes S.A.<font style="font-size: 8pt;"><sup> (i)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">538,104</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">484,986</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,320</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">120,432</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding: 0px; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz Comercializadora de Energia Ltda.<font style="font-size: 8pt;">&#160;<sup>(i)</sup></font></font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48%</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">138,493</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">116,249</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,922</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other investments</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,910</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">63,491</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,253</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,678</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt 0pt 0pt 30pt; break-after: avoid; break-inside: avoid; text-indent: 1.15pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,278,843</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">664,726</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">155,723</font></p>





















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">124,110</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><sup>(i)</sup>&#160;</font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considers the effects of allocation of fair value adjustments related to non-controlling interests.</font></td>
















</tr>

































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Balances and changes in investments in subsidiaries, joint ventures and associates are as follows:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;">

<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="5" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td colspan="11" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Subsidiaries</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Joint ventures</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Joint ventures</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Associates</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Advances</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Advances for future capital increase</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Other investments</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 20%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14,824,601</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">5,335</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14,829,936</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">274,380</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,283,904</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">90,000</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">500,000</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; width: 8%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,148,284</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; line-height: 1.1; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates <font style="font-size: 8pt; line-height: inherit;"><sup>(*)</sup></font></font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,150,561</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36,631)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,113,930</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(20,920)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(94,806)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(115,726)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of fair value adjustments</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,208)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,208)</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dividends</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,681,986)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,681,986)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(796)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(796)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Equity instrument granted <font style="font-size: 8pt;"><sup>(ii)</sup></font></font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,926</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,926</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Accumulated other comprehensive income</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(86,804)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,141</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(85,663)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,141</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,722</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,863</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Translation adjustments of foreign subsidiaries</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(16,796)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(169)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(16,965)</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; line-height: 1.1; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Advances for future capital increase and capital contribution</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">537,149</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">537,149</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,819</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,819</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Shareholder transactions</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(75,082)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(75,082)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Advances for investments - GPA stations</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
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<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,002)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,002)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Acquisition of shares</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">273,325</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">273,325</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Acquisition of control of Hidrovias do Brasil S.A. <font style="font-size: 8pt;"><sup>(iii)</sup></font></font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">117,276</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,461,946)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(500,000)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,434</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,840,236)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reclassification to assets held for sale <font style="font-size: 8pt;"><sup>(iv)</sup></font></font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(159,732)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(159,732)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>





















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other movements</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,350</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(69)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,281</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">354</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,896)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,542)</font></p>





















</td>





















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025<font style="font-size: 8pt;"><sup> (i)</sup></font></font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15,531,983</font></p>





















</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(30,224)</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15,501,759</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">375,046</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,507</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">84,998</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,265</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>





















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">468,816</font></p>





















</td>





















</tr>











































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




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

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








</tr>

















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>








</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.1;">
<p style="margin: 0px; text-indent: 0px;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>
























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>
























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>
























</tr>


















































</table>
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; height: 96px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr style="height: 16px;">
<td style="width: 3%; height: 16px;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</font></sup></td>
<td style="width: 97%; height: 16px;"><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: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Adjusted for unrealized profits between subsidiaries.</font></td>
















</tr>
<tr style="height: 16px;">
<td style="vertical-align: top; height: 16px;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></td>
<td style="height: 16px;"><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: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Investments in subsidiaries, joint ventures and associates net of provision for loss on investment.</font></td>
















</tr>
<tr style="height: 16px;">
<td style="height: 16px;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></td>
<td style="height: 16px;"><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; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amounts refer to grants of long-term incentives in subsidiaries Ultra&#160;</font>Mobilidade<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&#160;</font>Companhia<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font>Ultragaz<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&#160;</font>Ultracargo<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font>Log&#237;stica<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and Ultra&#160;</font>Log&#237;stica<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></font></td>
















</tr>
<tr style="height: 32px;">
<td style="height: 32px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></sup></td>
<td style="height: 32px;"><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; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Amounts refer to the write-off of the investment in<font style="line-height: inherit;">&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><font style="line-height: inherit;">&#160;</font>as an associate through the acquisition of control and consolidation that occurred on May 8, 2025. For further details, see Note 27.b. Additionally, due to the consolidation of<font style="line-height: inherit;">&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">, its joint ventures are now included in the consolidated in the amount of R$ 117,276.</font></font></td>
















</tr>
<tr style="height: 16px;">
<td style="height: 16px;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</font></sup></td>
<td style="height: 16px;"><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; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Reclassification of the portion of the investment attributed to the sale of the Cabotage operation of subsidiary&#160;</font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, according to the opening balance of acquisition of control of&#160;</font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -19.6667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. For further details, see Note 28.a.</font></font></td>
















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160; &#160;&#160;</font></p>









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</div><div id="D90m4wbgrpnkakn84sn76" style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0pt; line-height: 1.2; text-align: left;"><br></p>
<div style="line-height: 1.2;">
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B12r_6102025115342995"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">12. Right-of-use assets and leases payable (Consolidated)</font></a></div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and certain subsidiaries have vehicle and real estate leases, substantially related to: (i) Ipiranga: fuel stations and distribution bases; (ii) Ultragaz: points of sale and bottling bases; (iii) Ultracargo: port areas; (iv) Hidrovias: port areas and vessels and (v) Company: offices.</font></p>




















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<ol style="margin: 0pt; padding-left: 0pt; list-style-type: lower-alpha;">
<li style="font-family: Aptos; font-size: 10pt; font-style: italic; font-weight: bold; margin: 2pt 0pt 0pt 14pt; orphans: 0; padding-left: 7.3pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Right-of-use assets</font></li>




















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<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 27.6pt; orphans: 0; padding-left: 8.4pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Consolidated</font></li>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average useful life (years)</font></p>
























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<td style="height: 40px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Additions and remeasurement</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Write-offs</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Transfers <sup>(i)</sup></font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Translation adjustment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Amortization</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Opening balance &#8211; Acquisition of subsidiary <sup>(ii)</sup></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 40px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 20%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost:</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Real estate</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>
























</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,987,115</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 140,768</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (180,670)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,756</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (582)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 220,341</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,170,728</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Port areas</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28</font></p>
























</td>
<td style="background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 343,739</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 17,493</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (491)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 113,132</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 473,873</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Vehicles</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4</font></p>
























</td>
<td style="height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 357,094</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 106,373</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (72,531)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (2,834)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (122)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,855</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 390,835</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Equipment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2</font></p>
























</td>
<td style="background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 33,645</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 11,170</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (1,677)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (21,499)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 21,448</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 43,087</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Vessels</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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</td>
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</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (52,220)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (4,366)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 129,300</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 72,714</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20</font></p>
























</td>
<td style="background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 27,846</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,914</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 21,499</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 53,259</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; text-align: center;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,749,439</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 279,718</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (307,589)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 922</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (5,070)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 487,076</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,204,496</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Accumulated amortization:</font></p>
























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<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 331,202</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,927,044</font></p>
























</td>




















</tr>













































</table>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></font></td>
<td style="width: 97%; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the amortization of the right of use, which is being capitalized as Construction in progress until the beginning of its operation. Additionally, the cost includes the advance balance of the grant of Macei&#243; carried out in IPP.</font></td>




















</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></font></td>
<td style="vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On May 8, 2025, the Company acquired the control of<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">; for further details, see Note 27.b.</font></td>




















</tr>









































</table>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>







</div>







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

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



















</tr>







































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



















</div>



















</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt;"><br></p>
<div style="line-height: 1.2;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>
<div style="line-height: 1.2;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Leases payable</font></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The changes in leases payable are shown below:</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,485,152</font></p>
























</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest accrued</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 110,133</font></p>
























</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Payments of leases and interest</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (367,195)</font></p>
























</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Additions and remeasurement</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 279,718</font></p>
























</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Write-offs</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (83,964)</font></p>
























</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Opening balance - acquisition of subsidiary <sup>(i)</sup></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 286,778</font></p>
























</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Monetary variations and foreign exchange variations</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,746)</font></p>
























</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,707,876</font></p>
























</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 336,447</font></p>
























</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,371,429</font></p>
























</td>




















</tr>













































</table>
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; height: 16px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr style="height: 16px;">
<td style="width: 3%; height: 16px; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></font></td>
<td style="width: 97%; height: 16px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On May 8, 2025, the Company acquired the control of Hidrovias.; for further details, see Note 27.b.</font></td>




















</tr>









































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The undiscounted future cash outflows are presented below:</font></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 94px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>
























</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Up to 1 year</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">453,252</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">355,336</font></p>
























</td>
























</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1 to 2 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">326,843</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">282,945</font></p>
























</td>
























</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2 to 3 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">257,616</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">240,984</font></p>
























</td>
























</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3 to 4 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">211,406</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">188,002</font></p>
























</td>
























</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4 to 5 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">167,326</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">158,559</font></p>
























</td>
























</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">More than 5 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,240,494</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">891,997</font></p>
























</td>
























</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,656,937</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,117,823</font></p>
























</td>
























</tr>

















































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The contracts of leases payable are substantially indexed by the IGP-M. </font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In compliance with the CVM&#8217;s requirement under Official Letter SNC/SEP 02/2019, the potential right to PIS/COFINS recoverable embedded in the lease consideration, calculated based on the 9.25% rate in accordance with Brazilian tax legislation, amounted to R$ 245,767 in nominal cash flow, and R$ 157,979 in present value cash flow for the period ended September 30, 2025.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b.1. Discount rates</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The weighted nominal average discount rates for the lease contracts of the Company are:</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 11.35pt;">
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Contracts by maturity date and discount rate</font></p>
























</td>
























</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Maturity dates of the contracts</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Rate (% p.a.)</font></p>
























</td>
























</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">From 1 to 5 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10.95%</font></p>
























</td>
























</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">From 6 to 10 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10.98%</font></p>
























</td>
























</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">From 11 to 15 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10.83%</font></p>
























</td>
























</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">More than 15 years</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10.52%</font></p>
























</td>
























</tr>

















































</table>
<p style="margin: 0pt;"><br></p>
<div>
<br></div>








</div>







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

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



















</tr>







































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



















</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>




















</div>
<div style="line-height: 1.2;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B13pp_6102025115433457"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13. Property, plant, and equipment (Consolidated)</font></a></div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 533px;" width="100%">

<tr style="height: 53px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average useful life (years)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Additions</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Depreciation</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Transfers <sup>(i)</sup></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Write-offs</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Translation adjustment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Opening balance &#8211; acquisition of subsidiaries <sup>(ii)</sup></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 23%; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost:</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5%; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Land</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">609,624</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">455</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7,388)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">204,542</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">807,233</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Buildings</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,745,097</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50,289</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">62,268</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(11,236)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">823,403</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,669,821</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leasehold improvements</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,415,342</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31,730</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">72,536</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(70,244)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,398)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">166,620</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,611,586</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Machinery and equipment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,758,370</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">123,687</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">495,802</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,372)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,384)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">681,994</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,044,097</font></p>
























</td>




















</tr>
<tr style="height: 32px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0.4pt; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,199,426</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">51,028</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">119,956</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(135,460)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,440</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,236,390</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Push boats, barges, ships</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,888</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(168,628)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,139,591</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,980,851</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">LPG tanks and bottles</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,085,787</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">74,895</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,082</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(24,060)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,160,704</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Vehicles</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">395,885</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,752</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,617</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(16,989)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(40)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">708</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">395,933</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Furniture and fixtures</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">221,572</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,386</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,949)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,983)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(38)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,899</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">228,887</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IT equipment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">321,250</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,202</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,725</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,853)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(288)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">49,177</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">385,213</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Construction in progress</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,347,892</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">718,755</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(777,152)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,767)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,418)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">213,105</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,499,415</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Advances to suppliers</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44,966</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,750</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(33,762)</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,208)</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,746</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Imports in progress</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,128</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,128)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,148,339</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,108,497</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(24,662)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(305,560)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(178,194)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,285,479</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,033,899</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Accumulated depreciation:</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,599</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">212</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">70,151</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,789</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(57,520)</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(789,705)</font></p>
























</td>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(199,933)</font></p>
























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</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,471</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,186</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(398,640)</font></p>
























</td>
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</td>




















</tr>
<tr style="height: 32px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,122,684)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(100,575)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,343</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 32px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">127,651</font></p>
























</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(641,727)</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">243,523</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61,319</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,203,624)</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,331)</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,331)</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,135,966</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,108,497</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(641,727)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(27,154)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(62,037)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(116,875)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,432,274</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,828,944</font></p>
























</td>




















</tr>













































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0; font-size: 7pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to transfers of R$ 26,693 to intangible assets and R$ 461 to right-of-use assets.</font></td>




















</tr>
<tr>
<td style="padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></font></td>
<td style="text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Involves the total amounts of acquisitions made by the Company, including<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>do<font>&#160;</font></font>Brasil<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>(see Note 27.b), MI TRR, and<font>&#160;</font></font>Postos<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Millenium<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>




















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



















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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



















</div>
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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Construction in progress relates substantially to expansions, renovations, constructions and upgrade of the terminals&#8217; assets, service stations and distribution bases.</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Advances to suppliers are basically related to manufacturing of assets for expansion of terminals, distribution bases and acquisition of real estate.</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><br></p>




















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<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B14i_6102025115455467"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14. Intangible assets (consolidated)</font></a></div>
<p style="margin: 0pt; text-align: justify;"><br></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average useful life (years)</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Additions</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Amortization</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Transfers <sup>(i)</sup></font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Write-offs</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
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<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Translation adjustment</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Acquisition of subsidiaries <sup>(ii)</sup></font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 53px;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 22%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost:</font></p>
























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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">982,359</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">356,041</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,338,400</font></p>
























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<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Software</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,707,645</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">208,966</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,075</font></p>
























</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(28,355)</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">146,614</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,042,487</font></p>
























</td>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Customer contracts</font></p>
























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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(455)</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">860,204</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">859,749</font></p>
























</td>




















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<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Distribution rights</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">176,687</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32,046</font></p>
























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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,918</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,177</font></p>
























</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">232,828</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61,366</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61,366</font></p>
























</td>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trademark rights</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">121,001</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24</font></p>
























</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,991</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">130,016</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intangible assets in progress</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,895</font></p>
























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</td>
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</td>
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(24)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(148)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(164)</font></p>
























</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">33,999</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,558</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Decarbonization credits (CBIO)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">322</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">323,409</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(307,429)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,302</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,611</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,072</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,059,991</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">33,032</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,740,526</font></p>
























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<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Software</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,779</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,587</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,908,330</font></p>
























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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">574,401</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(241,911)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,693</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(309,345)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,335)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,283,532</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,239,365</font></p>
























</td>




















</tr>













































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to R$ 26,693 received in transfer from property, plant and equipment.</font></td>




















</tr>
<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></font></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Involves the total amounts of acquisitions made by the Company, including<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font>&#160;</font>do<font>&#160;</font></font>Brasil<font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font>&#160;</font>(see Note 27.b), MI TRR, and<font>&#160;</font></font>Postos<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font>Millenium<font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">.</font></td>




















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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">37</font></font></td>



















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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



















</div>
<p style="margin: 0pt;"><br></p>







</div>
<div style="line-height: 1.2;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>

















</div>
<div style="line-height: 1.2;">
<p style="margin: 10pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Goodwill</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The remaining net balance of goodwill on the following acquisitions is assessed for impairment annually or more frequently when there is indication that the goodwill might be impaired. The amount is made up of the following acquisitions.</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 272px;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Segment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 68%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Goodwill on the acquisition of:</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias (27.b)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">360,436</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga <font style="font-size: 8pt;"><sup>(i)</sup></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">276,724</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">276,724</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Uni&#227;o Terminais</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">211,089</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">211,089</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Texaco</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">177,759</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">177,759</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Stella</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103,051</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103,051</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Iconic (CBLSA)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69,807</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69,807</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz Comercializadora de Energia (27.c)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">42,260</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52,038</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Temmar</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,781</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,781</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">DNP</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,736</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,736</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Repsol</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,403</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,403</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Neog&#225;s</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,761</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,761</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Mi TRR</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,383</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Serra Diesel</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,413</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,413</font></p>
























</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">TEAS</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">797</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">797</font></p>
























</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,338,400</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">982,359</font></p>
























</td>




















</tr>













































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Including R$ 246,163 presented as goodwill at the Parent.</font></td>




















</tr>









































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The goodwill presented above is based on the expectation of future profitability, supported by appraisal reports, after allocation of the identified assets. In the nine-month period ended September 30, 2025, the Company did not identify any event that indicated the need to carry out an impairment test.</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Goodwill from investments in joint ventures and associates is presented under investments, for further information see Note 11.</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">38</font></font></td>



















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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>



















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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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<p style="margin: 0pt; text-align: justify;"><br></p>




















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<div style="line-height: 1.2;">
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B15l_6102025115512924"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15. Loans, financing and debentures</font></a></div>
<p style="margin: 10pt 0pt 0pt; text-indent: 0pt;">&#160;<font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Breakdown</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 570px; text-indent: 0px;" width="100%">

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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























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<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>
























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</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Description</font></p>
























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<td valign="bottom" style="height: 10px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Index/Currency</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average financial charges 2025 (p.a.)</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Weighted average hedging instruments</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td valign="bottom" style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 36%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign currency:</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Notes in the foreign market</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.3%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">142.6</font><font style="line-height: inherit;">% of DI <font style="font-size: 8pt;"><sup>(*)</sup></font></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026 to 2029</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,074,138</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,710,980</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Notes in the foreign market</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI + 1.6% <font style="font-size: 8pt;"><sup>(**)</sup></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2031</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">926,576</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.6%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103.4% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025 to 2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">749,593</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">691,006</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">SOFR + USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102.9% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">537,371</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange debentures</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104.4% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">488,117</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange debentures</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.3%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">101.7% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">328,490</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.4%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.2% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">778,147</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">JPY</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.6%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.4% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">501,524</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total in foreign currency</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7,104,285</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,681,657</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazilian Reais:</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures &#8211; CRA</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.3%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103.1% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025 to 2032</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,637,729</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,456,111</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI + R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026 to 2031</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,514,373</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">731,667</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.1%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102.5% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2028 to 2031</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,129,167</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">534,706</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CCB</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103.5%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">803,694</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,464,624</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financing</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14.6%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">106.6% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">533,402</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDCA</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI + R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">527,372</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">534,374</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures &#8211; CRA</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Fixed rate</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11.2%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104.3% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">508,472</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">477,827</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures &#8211; CRA</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI + R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.7%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">495,245</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">490,971</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDCA</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2026 to 2027</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">206,594</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">293,374</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Constitutional Fund (FNE)</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69.5% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2028 to 2041</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">189,739</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,472</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Constitutional Fund (FNO)</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.1%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">70.8% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2028 to 2037</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">83,625</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Debentures</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6.3%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2032 to 2034</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">80,048</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Climate Fund</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9.4%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025 to 2040</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,446</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">FINEP</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">TJLP</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2025 to 2032</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28,297</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">679</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total in Brazilian Reais</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9,681,155</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7,178,853</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total in foreign currency and Brazilian Reais</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16,785,440</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13,860,510</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,642,037</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,478,673</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1 to 2 years</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,706,770 </font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,257,618</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2 to 3 years</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160; 2,679,164 </font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,557,888</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3 to 4 years </font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160; 2,271,802 </font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,062,967</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4 to 5 years</font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;&#160;&#160;&#160;&#160; 435,599 </font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,130,651</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">More than 5 years</font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160; 3,050,068 </font></p>
























</td>
<td valign="bottom" style="background-color: #cceeff; height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,372,713</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current </font></p>
























</td>
<td valign="bottom" style="height: 16px;">
<p>&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">14,143,403</font></p>
























</td>
<td valign="bottom" style="height: 16px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">&#160;</p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">10,381,837</font></p>
























</td>



















</tr>












































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</font></sup></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considers a protection instrument for the principal of 52.5% of the DI and for interest DI minus 1.4% for a notional amount of US$ 300 million. Does not include the positive result of the natural hedge strategy through financial investments in US$.</font></td>



















</tr>
<tr>
<td style="padding: 0px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</font></sup></td>
<td style="text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considers a protection instrument for principal and interest at DI + 1.6% for a notional amount of US$ 50 million.</font></td>



















</tr>







































</table>
<p style="margin: 0pt; text-align: justify;"><br></p>








</div>







</div>







</div>
<div style="line-height: 1.2;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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


















</tr>





































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





























</tr>




























































</table>
<p style="margin: 10pt 0pt 0pt; text-indent: 0pt;">&#160;<font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The changes in loans, financing and debentures are shown below:</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 170px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>
























</td>
























</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 89%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">13,860,510</font></p>
























</td>
























</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Proceeds</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,960,091</font></p>
























</td>
























</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest accrued</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">976,999</font><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
























</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Principal payment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,521,892)</font></p>
























</td>
























</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest payment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(845,591)</font></p>
























</td>
























</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Balance of acquired company <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,297,191</font></p>
























</td>
























</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Monetary variations and foreign exchange variations</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(961,739)</font></p>
























</td>
























</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Change in fair value</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,148</font></p>
























</td>
























</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain on bond repurchase</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(71,277)</font></p>
























</td>
























</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16,785,440</font></p>
























</td>
























</tr>

















































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Involves total amounts of acquisitions made by the Company, including Hidrovias do Brasil (see Note 27.b), MI TRR, and Postos Millenium.</font></td>



















</tr>







































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The transaction costs associated with debt issuance were deducted from the balance of the related liability and recognized in profit or loss according to the effective interest rate method. As of September 30, 2025, the amount recognized in profit or loss was R$ 46,804 (R$ 14,190 as of September 30, 2024). The transaction cost incurred was R$ 68,412, of which R$ 11,166 referring to new funding and R$ 57,246 to the initial balance on acquisition of subsidiary. The balance to be recognized in the next periods is R$ 91,522 (R$ 69,914 as of December 31, 2024).</font></p>



















</div>
<div style="line-height: 1.2;">
<p style="margin: 10pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Guarantees</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As of September 30, 2025, there was R$ 83,625 (R$ 114,472 as of December 31, 2024) in financing that had real guarantees. There was also R$ 15,497,279 (R$ 13,586,936 as of December 31, 2024) in financing without real guarantees, with sureties or promissory notes.</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries offer collateral in the form of letters of guarantee for commercial and legal proceedings in the amount of R$ 99,643 as of September 30, 2025 (R$ 97,947 as of December 31, 2024).</font></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subsidiary Ipiranga issues collateral to financial institutions in connection with the amounts payable by some of its customers to such institutions, with maximum future settlements related to these guarantees in the amount of R$ 114,094 (R$ 219,700 as of December 31, 2024). If subsidiary Ipiranga is required to make any payment under these collateral arrangements, this subsidiary may recover the amount paid directly from its customers through commercial collection. Until September 30, 2025, subsidiary Ipiranga did not have losses in connection with these collateral arrangements.</font></p>
<p style="margin: 0pt;"><br></p>








</div>







</div>







</div>
<div style="line-height: 1.2;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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


















</tr>





































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





























</tr>




























































</table>
<p style="margin: 10pt 0pt; text-indent: 0pt;"><font style="font-size: 10pt; font-style: italic; font-weight: bold; text-align: justify;">c. Relevant operations contracted in the period</font></p>

















</div>
<div style="line-height: 1.2;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The main operations contracted in the period are shown below:</font></p>
<p style="margin: 0pt;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Description</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Index/ Currency</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Financial charges</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Hedging instruments</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Issuance date</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Principal</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Principal in R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Remuneration payment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Nominal amount payment</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">Company</font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign exchange debentures</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6%; background-color: #cceeff; text-align: center; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">5.3%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">101.7% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/26</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD 60,269</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">350,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Ultracargo </font><font style="line-height: inherit;">Log&#237;stica</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">SOFR + USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">0.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">102.9% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Feb/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Feb/26</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD 100,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">577,800</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Quarterly</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Cia </font><font style="line-height: inherit;">Ultragaz</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">CCB</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">CDI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">104.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">N/A</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/27</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 360,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">360,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Quarterly</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Cia </font><font style="line-height: inherit;">Ultragaz</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Constitutional Fund (FNE)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">69.7% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Feb/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Nov/41</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 100,976</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">100,976</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly with grace period</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">2028 to 2041</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Ultracargo </font><font style="line-height: inherit;">Log&#237;stica</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Constitutional Fund (FNO)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">IPCA</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">3.1%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">70.8% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Apr/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Feb/37</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 106,430</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">106,430</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly after a 3-year grace period</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Ultracargo </font><font style="line-height: inherit;">Solu&#231;&#245;es</font> <font style="line-height: inherit;">Log&#237;sticas</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4.7%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">103.8% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Apr/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Apr/26</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD 86,956</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">500,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Ipiranga</font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">BNDES</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">9.4%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">72.9% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">May/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/40</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 11,499</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">11,499</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly after a 3-month grace period</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Ultragaz Energia Ltda. </font><font style="line-height: inherit;">and</font> <font style="line-height: inherit;">subsidiaries</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">BNDES</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">9.4%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">72.9% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">May/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/40</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 11,499</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">11,499</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Monthly after a 3-month grace period</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Ultragaz Energia Ltda. </font><font style="line-height: inherit;">and</font> <font style="line-height: inherit;">subsidiaries</font></font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign exchange debentures</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">EUR</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">3.0%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">104.0% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Feb/37</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">EUR 77,535</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">500,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Annually</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Ipiranga</font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">14.6%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">106.6% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Oct/27</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 500,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">500,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Annually</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Ipiranga</font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Debentures</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">CDI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">0.5%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">N/A</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/28</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 400,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">400,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Semiannually </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Hidrovias</font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Debentures</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">CDI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">0.8%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">N/A</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Jun/31</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">R$ 982,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">982,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Semiannually </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Hidrovias</font></p>
























</td>
























</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">5.5%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">108.8% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Sept/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/27</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD 4,718</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">25,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Semiannually </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Serra Diesel</font></p>
























</td>
























</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Foreign loan</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">4.9%</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">102.4% of DI</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Sept/25</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Mar/27</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">USD 46,818</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">250,000</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">Semiannually </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">At final maturity </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 7pt;"><font style="line-height: inherit;">Cia </font><font style="line-height: inherit;">Ultragaz</font></font></p>
























</td>
























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<p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><font style="font-size: 10pt; font-style: italic; font-weight: bold; text-align: justify;">d. Covenants &#8211; Subsidiary </font><font style="font-style: italic; font-weight: bold;">Hidrovias</font></p>



















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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Financial Covenant linked to Debenture contracts</font></p>
<p style="margin: 2pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias, through the 1st and 2nd Debenture Issuances, has a financial covenant of leverage (&#8220;net debt to EBITDA&#8221;), calculated on a consolidated basis and which must be equal to or less than 4.5x in 2022, (b) 4.0x between January 1, 2023 and December 2023 and (c) 3.5x from January 1, 2024 until the maturity date of the respective issues.</font></p>
<p style="margin: 2pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Failure to comply with the covenant does not accelerate the debt repayment and is not considered default. However, Hidrovias now has restrictions on raising new debts beyond those permitted by the covenants of the indenture of issuance and is restricted from paying the minimum mandatory dividends set forth by its Bylaws. Hidrovias does not expect any short- or medium-term impacts on its operations and believes it will not need additional loans or working capital beyond those already permitted by the covenants of the Indentures of Debenture Issuances to comply with its obligations.</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On September 30, 2025, Hidrovias was above the mentioned ratios, not being allowed to issue new debts or distribute dividends above the minimum mandatory dividend as established in the Bylaws.</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">41</font></font></td>


















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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















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<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





























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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





























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</table>
<p style="margin: 0pt;"><br></p>
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B16t_6102025115532619"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16. Trade payables (consolidated)</font></a></div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Trade payables</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 79%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Domestic suppliers</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,224,859</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,558,813</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables - domestic related parties (see Note 8.b)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46,244</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,432</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign suppliers</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,026,776</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">776,052</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables - foreign related parties (see Note 8.b)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">115,255</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">160,088</font></p>
























</td>



















</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,518,385</font></p>
























</td>



















</tr>












































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Trade payables - reverse factoring</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">As of September 30, 2025, there </font><font style="line-height: inherit;">are</font><font style="line-height: inherit;"> no balances of trade payables &#8211; reverse factoring, and the balance of this account as of December 31, 2024 was R$ 1,014,504. </font></font><br></p>



















</div>
<div style="line-height: 1.2;">
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJSW41_6102025124151840"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">17. Employee benefits and private pension plan (Consolidated)</font></font></a></div>



















</div>
<div style="line-height: 1.2;">
<p style="margin: 10pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Post-employment benefits (Consolidated)</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Some subsidiaries recognized a provision for post-employment benefits mainly related to seniority bonus, payment of FGTS, and health, dental care, and life insurance plans for eligible retirees.</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The amounts related to such benefits are based on an annual valuation conducted by an independent actuary and reviewed by Management. </font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 128px;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Health and dental care plan <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">186,955</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">177,958</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Indemnification of FGTS</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">36,131</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32,420</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Seniority bonus</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,987</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,795</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Life insurance <font style="font-size: 8pt;"><sup>(2)</sup></font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,554</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,703</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">236,627</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">222,876</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,098</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,098</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">212,529</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">198,778</font></p>
























</td>



















</tr>












































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Applicable to<font>&#160;</font></font>Ipiranga<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, Tropical (merged into<font>&#160;</font></font>Ipiranga<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) and Iconic.</font></td>



















</tr>
<tr>
<td style="padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Applicable to<font>&#160;</font></font>Ipiranga<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, Tropical (merged into<font>&#160;</font></font>Ipiranga<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">),<font>&#160;</font></font>Ultragaz<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>and<font>&#160;</font></font>Ultrapar<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>



















</tr>







































</table>
<p style="margin: 0pt;"><br></p>








</div>







</div>







</div>
<div style="line-height: 1.2;">
<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">42</font></font></td>


















</tr>





































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="line-height: 1.2;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





























</tr>




























































</table>
<p style="margin: 0pt;"><br></p>



















</div>
<div style="line-height: 1.2;">
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B18p_610202511565684"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">18. Provisions and contingent liabilities (Consolidated)</font></a></div>
<p style="margin: 10pt 0pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Provisions for tax, civil and labor risks</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are parties to tax, civil and labor disputes at the administrative and judicial levels. The table below presents the breakdown of provisions by nature and their changes:</font></p>
<table cellspacing="0" cellpadding="0" style="height: 132px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Provisions</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of December 31, 2024</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Additions</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Reversals</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Payments</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Interest</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Opening balance &#8211; acquisition of subsidiary <sup>(</sup></font><sup><font style="font-weight: bold; line-height: inherit;">i</font><font style="font-weight: bold; line-height: inherit;">)</font></sup></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Balance as of September 30, 2025</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 24%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IRPJ and CSLL</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32,946</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">289</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,784)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(291)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">277</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,437</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax and social security</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">202,465</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,278</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(44,096)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(31,274)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,918</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">58,466</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">196,757</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Civil, environmental and regulatory claims</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">161,972</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109,022</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,663)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(27,083)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">86</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,417</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">268,751</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for indemnities</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">206,808</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,447</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(63,967)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,026)&#160;&#160; </font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,958</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">149,220</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Labor</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54,169</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,724</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,841)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,675)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">782</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,545</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">59,704</font></p>
























</td>



















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">658,360</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">139,760</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(134,351)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(72,349)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,021</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,428</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">694,869</font></p>
























</td>



















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,788</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">66,818</font></p>
























</td>



















</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Non-current</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">610,572</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">628,051</font></p>
























</td>



















</tr>












































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

<tr>
<td style="width: 3%; padding: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -18.9333px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On May 8, 2025, the Company acquired the control of Hidrovias; for further details, see Note 27.b.</font></td>



















</tr>







































</table>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Balance of escrow deposits by nature are as follows:</font></p>
<p style="margin: 0pt;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 74px; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>

















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">410,641</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">306,593</font></p>
























</td>

















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Labor</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,944</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,070</font></p>
























</td>

















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Civil, environmental and regulatory claims</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,965</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">115,413</font></p>
























</td>

















</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">480,550</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">446,076</font></p>
























</td>

















</tr>










































</table>
<p style="margin: 0pt;"><br></p>

















</div>
<div style="line-height: 1.2;">
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In the period ended September 30, 2025, the monetary variation on escrow deposits amounted to R$ 34,081, recorded as financial income in the statement of income for the period. </font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Regarding the provision for indemnities, as a result of the sale of Oxiteno, completed on April 1, 2022, Ultrapar assumed contractual liability for losses related to acts prior to the closing of the transaction. Thus, the provision for the reimbursement to Indorama was recorded, in the event the losses materialize, in the amount of R$ 110,815 as of September 30, 2025 (R$ 174,408 as of December 31, 2024), of which R$ 34,259 (R$ 95,274 as of December 31, 2024) for labor claims, R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">28,605 (R$ 26,074 as of December 31, 2024) for civil claims and R$ 47,950 (R$ 53,060 as of December 31, 2024) for tax claims.</font></font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Regarding the sale of Extrafarma, completed on August 1, 2022, whose liability for losses prior to the transaction was assumed by subsidiary Ipiranga, the provision for reimbursement to Pague Menos, in the event the losses materialize, totaled R$ 38,404 as of September 30, 2025 (R$ 32,400 as of December 31, 2024), of which R$ 13,273 (R$12,074 as of December 31, 2024) for labor claims, R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">7,587 (R$7,007 as of December 31, 2024) for civil claims and R$ 17,543 (R$ 13,319 as of December 31, 2024) for tax claims.</font></font></p>








</div>







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</div>
<div style="line-height: 1.2;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">43</font></font></td>
















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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
















</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>



























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>



























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>



























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>



























</tr>
























































</table>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Contingent liabilities (possible)</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are parties to administrative and legal proceedings for tax, civil and labor claims which, based on the assessment of the legal departments and the advice of external legal advisors, were classified as a possible loss. Due to this classification, no provision for these contingencies was recorded in the interim financial information.</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The contingent liabilities, classified as possible loss, by nature are as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Contingent liabilities (possible)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>
























</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Tax (b.1)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,119,873</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,176,046</font></p>
























</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Civil (b.2)</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">846,345</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">815,203</font></p>
























</td>

















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Labor</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">367,584</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">293,938</font></p>
























</td>

















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">7,33</font><font style="line-height: inherit;">3</font><font style="line-height: inherit;">,802</font></font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
























</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,285,187</font></p>
























</td>

















</tr>










































</table>
<p style="margin: 10pt 0pt; text-indent: 0pt;">&#160;<font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b.1 Contingent tax liabilities</font><br></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are also parties to administrative and legal proceedings involving IRPJ, CSLL, PIS and COFINS, mainly related to denial of offset claims and disallowance of tax credits. The total amount of these contingencies was R$ 3,608,560 as of September 30, 2025 (R$ 2,386,927 as of December 31, 2024). </font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Additionally, subsidiary Ipiranga and its subsidiaries have legal proceedings related to discussions of ICMS, in the consolidated amount of R$ 1,852,550 as of September 30, 2025 (R$ 1,357,445 as of December 31, 2024). The main discussions include: i) credits considered undue in the amount of R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">230,198 as of September 30, 2025 (R$ 94,640 as of December 31, 2024), ii) alleged non-payment of tax in the amount of R$ 440,566 as of September 30, 2025 (R$ 154,914 as of December 31, 2024); iii) conditioned fruition of tax incentive in the amount of R$ 242,029 as of September 30, 2025 (R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">191,549 as of December 31, 2024); iv) inventory differences in the amount of R$ 226,471 as of September 30, 2025 (R$ 279,448 as of December 31, 2024); v) 2% surcharge on products considered non-essential (hydrated ethanol) in the amount of R$ 239,269 as of September 30, 2025 (R$ 223,691 as of December 31, 2024). </font></font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">In addition, subsidiary Ipiranga and its subsidiaries are discussing the offset of excise tax (&#8220;IPI&#8221;) credits related to raw materials used in the manufacturing of products subject to taxation, which were subsequently sold and were not subject to IPI under the tax immunity, in the amount of R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">206,361 as of September 30, 2025 (R$ 194,508 as of December 31, 2024). On April 9, 2025, the Superior Court of Justice, under the repetitive appeals regime, ruled on the discussion (Theme 1247) in favor of the taxpayers.</font></font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Of the remaining amount of possible tax proceedings, R$ 143,763 refers to Hidrovias as of September 30, 2025, and R$ 308,639 relates to other ongoing proceedings of the Company and its subsidiaries.</font></p>







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

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







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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>



























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>



























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<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b.2 Contingent civil liabilities</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">The Company and its subsidiaries have contingent liabilities for civil, environmental and regulatory claims in the amount of R$ 846,345 as of September 30, 2025 (R$ 815,203 as of December 31, 2024), mainly represented by the following proceedings involving subsidiary Cia. Ultragaz: (i) administrative proceedings filed by CADE, referring to alleged anti-competitive practices in municipalities in the Tri&#226;ngulo Mineiro region in 2001. At the administrative level, Cia. Ultragaz was ordered to pay a fine, in the updated amount of R$ 39,067 as of September 30, 2025 (R$ 38,005 as of December 31, 2024). The imposition of such administrative decision was suspended by a court order and its merit is being judicially reviewed; and (ii) lawsuits filed by resellers, who are seeking indemnity, in addition to the nullity and termination of distribution contracts, totaling R$ 88,602 as of September 30, 2025 (R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;">187,460 as of December 31, 2024).</font></font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Lubricants operation between Ipiranga and Chevron</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The provisions of shareholder Chevron&#8217;s liability amount to R$ 62,292 (R$ 36,146 as of December 31, 2024), for which an indemnification asset was recorded, comprising R$ 195 as of September 30, 2025 (R$ 32,380 as of December 31, 2024) for tax claims, R$ 58,443 for civil claims (R$ 220 as of December 31 2024) and R$ 3,654 (R$ 3,545 as of December 31, 2024) for labor claims.</font></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Additionally, due to a business combination, on December 1, 2017, a provision of R$ 198,900 was recorded relating to contingent liabilities and an indemnification asset in the same amount was recognized, with a current balance of R$ 88,512 as of September 30, 2025 (R$ 89,952 as of&#160; December 31, 2024). The amounts of provisions and contingent liabilities related to the business combination and the liability of the shareholder Chevron will be reimbursed to subsidiary Iconic in the event of losses without the need to recognize an allowance for expected credit losses.</font></p>







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<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB1_6102025113440503"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">19. Subscription warrants &#8211; indemnification</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Because of the association between the Company and Extrafarma on January 31, 2014, 7 subscription warrants &#8211; indemnification were issued, corresponding to up to 6,411,244 shares of the Company. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On February 28, 2024, August 7, 2024, February 26, 2025 and August 13, 2025, the Board of Directors confirmed the issuance of 191,778, 35,235, 67,679 and 342,691, respectively, common shares within the authorized capital limit provided by article 6 of the Company&#8217;s Bylaws, due to the partial exercise of the rights conferred by the subscription warrants.</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As set out in the association agreement between the Company and Extrafarma of January 31, 2014 and due to the unfavorable decisions on some lawsuits with triggering events prior to January 31, 2014, 792,065 shares linked to the subscription warrants &#8211; indemnification were canceled and not issued. As of September 30, 2025, R$ 17,077 was recorded as financial expense (financial income of R$ 15,625 as of September 30, 2024) due to the update of subscription warrants, and 2,579,497 shares linked to subscription warrants &#8211; indemnification remain retained, which may be issued or canceled depending on whether the final decisions on the lawsuits will be favorable or unfavorable, being the maximum number of shares that can be issued in the future, totaling R$ 56,672 (R$ 47,745 as of December 31, 2024).</font></p>














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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















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<div style="background-color: #002060; margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB2_6102025113451303"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">20. Equity</font></a></div>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As of September 30, 2025, the subscribed and paid-up capital consists of 1,115,849,873 common shares with no par value (1,115,439,503 as of December 31, 2024), and the issuance of preferred shares and participation certificates is prohibited. Each common share entitles its holder to one vote at Shareholders&#8217; Meetings. </font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On February 26, 2025, the Board of Directors confirmed the issuance of 67,679 common shares within the authorized capital limit provided by art. 6 of the Company's Bylaws, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company at the time of the merger of all Extrafarma shares into the Company, approved by the Company&#8217;s Extraordinary General Meeting held on January 31, 2014. </font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On April 16, 2025 the Ordinary General Meeting approved the increase in the Company's capital in the total amount of R$ 1,365,348, without the issuance of shares, through the incorporation into the share capital of part of the amounts recorded in the statutory reserve for investments.</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On August 13, 2025, the Board of Directors confirmed the issuance of 342,691 common shares within the authorized capital limit provided by art. 6 of the Company's Bylaws, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company at the time of the merger of all Extrafarma shares into the Company, approved by the Company&#8217;s Extraordinary General Meeting held on January 31, 2014.</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The price of the Company-issued shares on B3 as of September 30, 2025 was R$ 21.97 (R$ 15.88 as of December 31, 2024).</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As of September 30, 2025, there were 70,252,989 common shares outstanding abroad in the form of ADRs (65,757,889 shares as of December 31, 2024).</font></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Equity instrument granted</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company has a share-based incentive plan, which establishes the general terms and conditions for the concession of common shares issued by the Company and held in treasury (see Note 8.d). As of September 30, 2025, the balance of treasury shares granted with right of use was 18,200,012 common shares (14,083,439 as of December 31, 2024).</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Treasury shares</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company acquired its own shares at market prices, without capital reduction, to be held in treasury and to be subsequently disposed of or cancelled, in accordance with CVM Resolutions 2/20 and 77/22. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On November 28, 2024, the Company's Board of Directors approved a buyback program of shares issued by the Company, effective for twelve months starting on December 2, 2024 and limited to a maximum of 25,000,000 common shares, which was completed on July 29, 2025. In 2024, 8,900,000 shares were acquired at an average cost of R$ 16.74 per share and, in 2025, 16,100,000 shares were acquired at an average cost of R$ 16.58 per share.</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As of September 30, 2025, the balance was R$ 826,914 (R$ 596,400 as of December 31, 2024) and 29,194,512 common shares (19,283,471 as of December 31, 2024) were held unrestricted in the Company's treasury, acquired at an average cost of R$ 17.45 per share.</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,194,512</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Balance of treasury shares granted with right of use</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,200,012</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total balance of treasury shares as of September 30, 2025. </font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,394,524</font></p>

















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<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#160;&#160;</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">46</font></font></td>








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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












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<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















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<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: Aptos; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">d. Capital <font style="font-family: 'times new roman', times;">reserve</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">The capital reserve reflects the gain or loss on the disposal of shares for concession of usufruct to executives of the Company's subsidiaries, when the plan is finalized, as mentioned in Note 8.d., because of the association with<font>&#160;</font>Extrafarma<font>&#160;</font>in 2014, the Company recognized an increase in the capital reserve in the amount of R$ 498,812, due to the difference between the value attributed to share capital and the market value of the<font>&#160;</font>Ultrapar<font>&#160;</font>shares on the date of issuance, less R$ 2,260 related to the costs for the issuance of these shares. Additionally, on February 28, 2024, August 7, 2024, February 26, 2025 and August 13, 2025, there was an increase in the reserve in the amounts of R$ 5,631, R$ 821, R$ 1,126 and R$ 6,737, respectively, due to the partial exercise of the subscription warrants &#8211; indemnification (see Note 19).</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><br></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: Aptos; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">e. Approval of dividends</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;">On February 26, 2025, the Board of Directors approved the distribution of dividends in the amount of R$ 493,301 (R$ 0.45 per share), paid on March 14, 2025, without remuneration or monetary variation. Of this amount, R$ 285,180 (R$0.26 per share) refer to minimum mandatory&#160; dividends and R$</font><font style="font-family: Aptos; line-height: inherit;">&#160;</font><font style="font-family: Aptos; line-height: inherit;">208,121 (R$0.19 per share) to additional dividends to the minimum mandatory dividends. The distribution of dividends was ratified by the shareholders at the Ordinary and Extraordinary General Meeting on April 16, 2025.</font></font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">On August 13, 2025, the Board of Directors approved the distribution of interim dividends in the amount of R$ 326,005 (R$ 0.30 per share), paid as from August 29, 2025, without remuneration or monetary variation.</font></p>













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<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="background-color: #002060; margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB3_610202511352643"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">21. Net revenue from sales and services (Consolidated)</font></a></div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; width: 79%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sales revenue:</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Merchandise</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">105,125,179</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100,791,943</font></p>

















</td>













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<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Services rendered and others</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,481,520</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,330,417</font></p>

















</td>













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<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Electricity <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">536,993</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>













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<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sales returns, rebates and discounts</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(765,919)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(836,236)</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of contract assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(339,336)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(402,804)</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">107,038,437</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100,883,320</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Taxes on sales</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,620,277)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,785,799)</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net revenue</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104,418,160</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">98,097,521</font></p>

















</td>













</tr>































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 10px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to revenue from the sale of electricity of subsidiary Ultragaz Comercializadora, acquired by Ultragaz in 2024. For further information, see Note 27.c.</font></td>













</tr>



























</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><br></p>







</div>







</div>







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

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








</tr>

















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>








</div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;">&#160;</p>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















</tr>












































</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>













</div>
<div style="line-height: 1.2;">
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB4_6102025113510939"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">22. Costs, expenses and other operating results by nature</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company presents its results by nature in the consolidated statement of income and details below its costs, expenses and other operating results by nature:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&#160;</font></p>

















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>

















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">09/30/2024</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">09/30/2024</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; width: 57%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Raw materials and materials for use and consumption</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(95,421,037)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(90,182,122)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Personnel expenses</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(210,315)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(179,817)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,088,533)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,910,863)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Freight and storage</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
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<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(901,538)</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(996,055)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation and amortization</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(11,199)</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(11,715)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(883,638)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Services provided by third parties</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(66,491)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(55,285)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(531,881)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(532,272)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchase of electricity <font style="font-size: 8pt;"><sup>(a)</sup></font></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(451,094)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Decarbonization obligation <font style="font-size: 8pt;"><sup>(b)</sup></font></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(307,123)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(441,813)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amortization of right-of-use assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,188)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,101)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(266,781)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(230,157)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Advertising and marketing</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,807)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,472)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(138,914)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(153,867)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other expenses and income, net <font style="font-size: 8pt;"><sup>(c) </sup></font></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">30,214</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,792</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">345,541</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(121,461)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Shared Services Center/Holding expenses</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">275,245</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">233,160</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
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<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>













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<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,459</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,438)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(100,644,998)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(95,242,416)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Classified as:</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of products and services sold</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(97,651,246)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(91,646,046)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Selling and marketing </font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,853,859)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,884,131)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">General and administrative</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(38,302)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(36,355)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,626,953)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,374,833)</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other operating income (expenses), net </font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">51,761</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">26,917</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">487,060</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(337,406)</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,459</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,438)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(100,644,998)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(95,242,416)</font></p>

















</td>













</tr>































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 30px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></sup></font></td>
<td style="width: 97%; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Refers to the purchase of electricity of subsidiary Ultragaz Comercializadora, acquired by Ultragaz in 2024. For further information, see Note 27.c.</font></td>













</tr>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></sup></font></td>
<td style="height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Refers to the obligation established by the RenovaBio program to meet decarbonization targets for the gas and oil sector. The amounts are presented in Other operating income (expenses), net.</font></td>













</tr>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</font></sup></font></td>
<td style="height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Include extemporaneous credits recognized in the period of R$ 672,572, see Note 7.</font></td>













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












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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












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<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















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<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















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<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB6_6102025113522107"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">23. Financial result</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















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<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Parent</font></p>

















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<td style="padding-left: 0px; padding-right: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















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<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>

















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<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 57%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial income:</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest on financial investments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">35,421</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17,992</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">518,195</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">397,209</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest from customers</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">118,597</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">125,068</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Update of subscription warrants (see Note 19)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,625</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,625</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selic interest on PIS/COFINS credits <font style="font-size: 8pt;"><sup>(a)</sup></font></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">543,825</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">43,032</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Update of provisions and other income</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,063</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,671</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,085</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">80,654</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">40,484</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">48,291</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,194,702</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">661,588</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial expenses:</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest on loans, financing and financial instruments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,149)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(911)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,651,355)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(927,726)</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest on leases payable</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(514)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(597)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(110,133)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(100,548)</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Update of subscription warrants (see Note 19)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,077)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,077)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Bank charges, financial transactions tax, and other taxes</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(443)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,627)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(112,919)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(105,905)</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange variations, net of gain (loss) on derivative financial instruments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,624</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">149,976</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(117,428)</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Update of provisions and other expenses</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(135)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,137)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(65,604)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,759)</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(19,318)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(20,648)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,807,112)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,258,366)</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,166</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,643</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(612,410)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(596,778)</font></p>

















</td>













</tr>































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 10px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="width: 3%; vertical-align: top; height: 10px;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></sup></font></td>
<td style="width: 97%; vertical-align: top; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Include the result of financial income arising from extemporaneous credits recognized in the period of R$ 480,318, see Note 7.</font></td>













</tr>



























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>







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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">49</font></font></td>












</tr>

























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












</div>
















</div>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















</tr>












































</table>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB7_610202511353382"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">24. Earnings per share (Parent and Consolidated)</font></a></div>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below presents a reconciliation of numerators and denominators used in computing earnings per share. The Company has a stock plan and subscription warrants, as mentioned in Notes 8.d and 19, respectively.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 338px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2025 to 09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2025 to 09/30/2025</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Continuing Operations</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Discontinued Operations</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Continuing Operations</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Discontinued Operations</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">07/01/2024 to 09/30/2024</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 29px;" valign="bottom">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">01/01/2024 to 09/30/2024</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; width: 37%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">Basic earnings per share</font><font style="font-weight: bold; line-height: inherit;">&#160;</font> </font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 7%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net income for the year of the Company</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">710,984</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,796)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,188</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,143,327</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,929)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,130,398</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">651,582</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,520,971</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Weighted average number of shares outstanding (in thousands)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,086,560</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,086,560</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,086,560</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,089,584</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,089,584</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,089,584</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,103,872</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,102,117</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Basic earnings per share - R$</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.6543</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0.0017)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.6527</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.9671</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0.0119)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.9552</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.5903</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.3800</font></p>

















</td>













</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Diluted earnings per share </font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net income for the year of the Company</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">710,984</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,796)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,188</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,143,327</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,929)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,130,398</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">651,582</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,520,971</font></p>

















</td>













</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Weighted average number of outstanding shares (in thousands), including dilution effects</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,107,587</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,107,587</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,107,587</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,109,329</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,109,329</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,109,329</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,119,907</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,117,011</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Diluted earnings per share - R$</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.6419</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0.0016)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.6403</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.9321</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0.0117)</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.9204</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0.5818</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1.3616</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Weighted average number of shares (in thousands)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Weighted average number of shares for basic earnings per share</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,086,560</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,089,584</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,103,872</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,102,117</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dilution effect</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subscription warrants</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,808</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,895</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,040</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,065</font></p>

















</td>













</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Stock plan</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,219</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,850</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,995</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,829</font></p>

















</td>













</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Weighted average number of shares for diluted earnings per share</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,107,587</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,109,329</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,119,907</font></p>

















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,117,011</font></p>

















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</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Earnings per share were adjusted retrospectively by the issuance of 3,266,694 common shares due to the partial exercise of the rights conferred by the subscription warrants disclosed in Note 19.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</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">50</font></font></td>












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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















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<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















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<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BJKB8_6102025113541427"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">25. Segment information</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The segments shown in these financial statements are strategic business units supplying different products and services. Intersegment sales are made considering the conditions negotiated between the parties.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The main segments are presented in the table below: </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Segment</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Main activities</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz</font></p>

















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Distribution of liquefied petroleum gas (LPG) in the segments: bulk, comprising condominiums, trade, services, industries and agribusiness; and bottled, mainly comprising residential consumers. To expand the offer of energy solutions to its customers, the company also operates in the segments of renewable energy solutions and compressed natural gas.</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ipiranga</font></p>

















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Distribution and sale of oil-related products, biofuels and similar products (gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants) to service stations that operate under the Ipiranga brand throughout Brazil and to major consumers and carrier-reseller-retailer (TRRs), as well as in the convenience stores and automotive services segments.</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo</font></p>

















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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operates in specialized liquid bulk storage solutions in the main logistics centers of Brazil.</font></p>

















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<td style="border-right: 0.5pt dotted #000000; border-top: 0.5pt dotted #000000; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; border-bottom-width: 0.5pt; border-bottom-style: dotted; width: 18.0147%; border-bottom-color: #000000 !important;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; font-size: 13.3333px; line-height: inherit;">Hidrovias<font>&#160;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; vertical-align: super; line-height: inherit; font-size: 8pt;">(1)</font></td>
<td style="border-left: 0.5pt dotted #000000; border-top: 0.5pt dotted #000000; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; border-bottom-width: 0.5pt; border-bottom-style: dotted; width: 81.8627%; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Operations in logistics solutions and waterway and multimodal infrastructure, in Brazil and abroad.</font></td>



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<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">As of May 2025, through the acquisition of control according to Note 27.b, the Company began to report Hidrovias as a new operating segment.</font></td>













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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Geographic area information</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The subsidiaries generate revenue from operations in Brazil, as well as from exports of products and services to foreign customers, as disclosed below:</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net revenue from sales and services:</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















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<td style="padding-left: 3pt; padding-right: 3pt; width: 1%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















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<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Brazil</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 102,845,078</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 97,416,446</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Europe</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 97,037</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 46,818</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">United States of America and Canada</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 577,326</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 352,865</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other Latin American countries</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 332,082</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 174,988</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Oceania</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">411,900</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>

















</td>













</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 154,737</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 106,404</font></p>

















</td>













</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 104,418,160</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 98,097,521</font></p>

















</td>













</tr>































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








</div>







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

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












</tr>

























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>












</div>












</div>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















</tr>












































</table>
<p style="margin: 10pt 0pt; line-height: 1.2; text-align: left; text-indent: 0pt;"><font style="font-size: 10pt; font-style: italic; font-weight: bold; text-align: justify;">b. Financial information related to segments</font></p>
<div style="line-height: 1.2; margin: 0pt; text-indent: 0pt;">
<p style="margin: 0pt 0pt 10pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.1; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The main financial information of each of the continuing operations of the Company&#8217;s segments is as follows.</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 397.125px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td colspan="9" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















</td>












</tr>
<tr style="height: 0px;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Profit or loss</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ipiranga</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultragaz</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultracargo</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">Hidrovias </font><font style="font-weight: bold; vertical-align: super; line-height: inherit;">(3)</font></font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">Others </font><font style="font-weight: bold; vertical-align: super; line-height: inherit;">(1) (2)</font></font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Subtotal </font></p>
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Segments</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Eliminations</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 30.125px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>












</tr>
<tr style="height: 30.125px;"></tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 36%; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenue from sales and services</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">93,504,952</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">9,199,000</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">759,872</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,076,056</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,824</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">104,546,704</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(128,544)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 17px; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">104,418,160</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Transactions with third parties</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">93,504,816</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,198,054</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">638,403</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,076,056</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">831</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104,418,160</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104,418,160</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intersegment transactions</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">136</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">946</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">121,469</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,993</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">128,544</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(128,544)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost of products and services sold</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(89,448,697)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7,406,541)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(323,055)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(596,231)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(97,774,524)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">123,278</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(97,651,246)</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,056,255</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,792,459</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">436,817</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">479,825</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,824</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,772,180</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(5,266)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,766,914</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income (expenses)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling and marketing</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,378,941)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(474,243)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,463)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">332</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,859,315)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,456</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,853,859)</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">General and administrative</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(847,098)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(305,925)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(121,920)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(153,490)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(202,569)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,631,002)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,049</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,626,953)</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain (loss) on disposal of assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46,720</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(16,560)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,799</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34,005</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">34,005</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">405,912</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,140</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,042</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(380)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">50,346</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">487,060</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">487,060</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income (loss)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,282,848</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,016,871</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">318,515</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">330,086</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(145,392)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,802,928</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,239</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,807,167</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(15,765)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,351</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,480</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(67,161)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36,631)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(115,726)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(115,726)</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,208)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,208)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,208)</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain on acquisition of control of associate</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,105</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,105</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,105</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total share of profit (loss) of subsidiaries, joint ventures and associates</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(15,765)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,351</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,272</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23,944</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36,631)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25,829)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25,829)</font></p>

















</td>












</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Income (loss) before financial result and income and social contribution taxes</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,267,083</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,018,222</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">319,787</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">354,030</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(182,023)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,777,099</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,239</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,781,338</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization <sup>(a)</sup></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">347,698</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">247,209</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,708</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">170,237</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,592</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">874,444</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,429)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">870,015</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of contractual assets with customers - exclusivity rights</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">339,335</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">339,336</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">339,336</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of right-of-use assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">161,203</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">57,528</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24,427</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,437</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,186</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">266,781</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">266,781</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,208</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,208</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,208</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total depreciation and amortization</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">848,236</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">304,738</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">121,343</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">191,674</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">15,778</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,481,769</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(4,429)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,477,340</font></p>

















</td>












</tr>






























</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.1; text-indent: 0pt;"><br></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.1; text-indent: 0pt;"><font style="font-size: 10pt;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 64px;">

<tr style="height: 10px;">
<td style="width: 3%; vertical-align: top; height: 10px;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></sup></td>
<td style="width: 97%; vertical-align: top; text-align: justify; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount is net of PIS and COFINS on depreciation in the amount of R$ 13,623.</font></td>












</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; height: 18px;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></td>
<td style="vertical-align: top; text-align: justify; height: 18px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes in the line &#8220;General and administrative and Revenue from sale of goods&#8221; the amount of R$ 158,844 in 2025 (R$ 123,048 in 2024) of expenses related to<font>&#160;</font></font>Ultrapar's<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>holding structure.</font></td>












</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; height: 18px;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></td>
<td style="vertical-align: top; text-align: justify; height: 18px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The &#8220;Others&#8221; column refers to the parent<font>&#160;</font></font>Ultrapar<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>and subsidiaries<font>&#160;</font></font>Imaven<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,<font>&#160;</font></font>Ultrapar<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>International, UVC<font>&#160;</font></font>Investimentos<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>and share of profit (loss) of joint venture RPR and subsidiary<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>












</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; height: 18px;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></sup></td>
<td style="vertical-align: top; text-align: justify; height: 18px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The &#8220;</font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221; segment is composed of<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>(HBSA3) and its parent company Ultra<font>&#160;</font></font>Log&#237;stica<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, direct subsidiary of<font>&#160;</font></font>Ultrapar<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, and therefore, the reported numbers may contain differences with the numbers reported by<font>&#160;</font></font>Hidrovias<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font>(HBSA3).</font></td>












</tr>

























</table>
<p style="margin: 0pt 0pt 3pt; text-align: justify; line-height: 1.1; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 7pt; vertical-align: super; line-height: inherit;">&#160;</font></p>








</div>







</div>
<div style="line-height: 1.2;">
<div style="line-height: 1.1;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt; text-align: justify; line-height: 1.1;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















</tr>












































</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; vertical-align: super; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 9.75pt;">
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2024</font></p>

















</td>












</tr>
<tr style="height: 9.75pt;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Profit or loss</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ipiranga</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultragaz</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultracargo</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">Others </font><font style="font-weight: bold; vertical-align: super; line-height: inherit;">(1) (2)</font></font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Subtotal </font></p>
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Segments</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Eliminations</font></p>

















</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>












</tr>
<tr></tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 44%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenue from sales and services</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">89,239,239</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">8,220,852</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">792,730</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7,051</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">98,259,872</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(162,351)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">98,097,521</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Transactions with third parties</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">89,177,796</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,220,008</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">638,927</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,925</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">98,042,656</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">98,042,656</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intersegment transactions</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">61,443</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">844</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">153,803</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,126</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">217,216</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(162,351)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54,865</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost of products and services sold</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(84,941,712)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,574,638)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(284,811)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(91,801,161)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">155,115</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(91,646,046)</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,297,527</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,646,214</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">507,919</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7,051</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,458,711</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(7,236)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">6,451,475</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income (expenses)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling and marketing</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,447,715)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(430,650)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,356)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(11)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,886,732)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,601</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,884,131)</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">General and administrative</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(842,272)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(249,141)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(127,150)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(165,336)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,383,899)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,066</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,374,833)</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gain (loss) on disposal of assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104,266</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,061</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(36)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">70</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">105,361</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">105,361</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(398,235)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37,252</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,366</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,211</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(337,406)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(337,406)</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income (loss)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,713,571</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,004,736</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">383,743</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(146,015)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,956,035</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,431</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,960,466</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,384)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">572</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,420</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,578)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,970)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,970)</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,089)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,089)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(2,089)</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total share of profit (loss) of subsidiaries, joint ventures and associates</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(5,384)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">572</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">331</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,578)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,059)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top-width: 0.5pt; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9,059)</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Income (loss) before financial result and income and social contribution taxes</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,708,187</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,005,308</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">384,074</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(150,593)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,946,976</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">4,431</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">2,951,407</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization (a)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">335,703</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">209,152</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">89,625</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,106</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">648,586</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,431)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">644,155</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of contractual assets with customers - exclusivity rights</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">401,808</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">996</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">402,804</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">402,804</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of right-of-use assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">158,042</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,590</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,397</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,128</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">230,157</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">230,157</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,090</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,090</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,090</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total depreciation and amortization</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">895,553</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">257,738</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">114,112</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">16,234</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,283,637</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(4,431)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,279,206</font></p>

















</td>












</tr>






























</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; vertical-align: super; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></td>
<td style="width: 97%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount is net of PIS and COFINS on depreciation in the amount of R$ 29,652.</font></td>












</tr>

























</table>
<p style="margin: 0pt; line-height: 1.1;"><br></p>







</div>
<p style="margin: 0pt; text-align: justify; line-height: 1.1;"><br></p>
<div style="line-height: 1.1;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>





















</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>





















</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>





















</tr>
<tr>
<td style="width: 50%; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>





















</tr>












































</table>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Assets by segment</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td colspan="9" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ipiranga</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultragaz</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultracargo</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Hidrovias <sup>(1)</sup></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Others <sup>(2)</sup></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Subtotal </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Segments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Discontinued operations</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; width: 33%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8.5%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">124,844</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,900</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">238,483</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25,414</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,343</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 8.5%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">396,984</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 9%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">108,667</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; width: 9%; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">505,651</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,324,011</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,601,097</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,503,352</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,646,060</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">130,416</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,204,936</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(375,992)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,828,944</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intangible assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,113,278</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">325,185</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">286,201</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,405,829</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">271,708</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,402,201</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(162,836)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,239,365</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Right-of-use assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">837,932</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">178,686</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">617,686</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">286,217</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,523</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,927,044</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,927,044</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other current and non-current assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,759,353</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,387,398</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">398,712</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,358,480</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,729,562</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,633,505</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(278,925)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,354,580</font></p>

















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Assets held for sale</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,086</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">709,086</font></p>

















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total assets (excluding intersegment transactions)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25,159,418</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,497,266</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,044,434</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,722,000</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,141,552</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,564,670</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45,564,670</font></p>

















</td>












</tr>






























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 165px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>

















</td>












</tr>
<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ipiranga</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultragaz</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Ultracargo</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Others <sup>(2)</sup></font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Subtotal </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Segments</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 40%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">146,450</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,042</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">216,134</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,785,007</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,148,633</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,148,633</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,282,469</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,566,376</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,157,663</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">129,458</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,135,966</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,135,966</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intangible assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,017,405</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">333,652</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">283,598</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">273,675</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,908,330</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,908,330</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Right-of-use assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">911,783</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">152,024</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">599,853</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,664</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,671,324</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,671,324</font></p>

















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other current and non-current assets</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20,944,583</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,156,708</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">393,368</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,199,162</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,693,821</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,693,821</font></p>

















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total assets (excluding intersegment transactions)</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26,302,690</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,209,802</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,650,616</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,394,966</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,558,074</font></p>

















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39,558,074</font></p>

















</td>












</tr>






























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></td>
<td style="width: 97%; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">The &#8220;Hidrovias&#8221; column is composed of Hidrovias and its parent company Ultra Log&#237;stica, a direct subsidiary of Ultrapar, which is not part of Hidrovias segment, and therefore, the reported numbers may contain differences with the numbers reported by Hidrovias.</font></td>












</tr>
<tr>
<td style="vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></td>
<td style="vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">The &#8220;Others&#8221; column refers to the parent Ultrapar and subsidiaries Imaven, Ultrapar International, UVC Investimentos and share of profit (loss) of joint venture RPR.</font></td>












</tr>

























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><br></p>







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

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










</tr>





















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>










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</div><div id="Dt15s2txfy4z6ucjqf6u39" style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























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<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























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<div>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="background-color: #002060; margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BVBKS2_6102025123342857"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">26. Financial instruments (Consolidated)</font></a></div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Classes and categories of financial instruments and their fair values</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The balances of financial instrument assets and liabilities and the measurement criteria are presented in accordance with the following categories:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 31px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 11px;">
<td style="width: 7%; vertical-align: top; height: 11px;" valign="top"><br></td>
<td style="width: 5%; vertical-align: top; height: 11px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></td>
<td style="width: 88%; vertical-align: top; height: 11px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level 1 &#8211; prices negotiated (without adjustment) in active markets for identical assets or liabilities;</font></td>










</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; height: 10px;" valign="top"><br></td>
<td style="vertical-align: top; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></td>
<td style="vertical-align: top; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level 2 &#8211; inputs other than prices negotiated in active markets included in Level 1 and observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and</font></td>










</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; height: 10px;" valign="top"><br></td>
<td style="vertical-align: top; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</font></td>
<td style="vertical-align: top; height: 10px;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level 3 - inputs for assets or liabilities that are not based on observable market variables (unobservable inputs).</font></td>










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</table>
<p style="margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-indent: -18pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160;&#160;</font></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 548px;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 10px; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 20.9732%; height: 10px; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" colspan="4"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Carrying value</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99181%; height: 10px; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Carrying value</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99181%; height: 10px; text-align: center; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fair value</font></td>












</tr>
<tr style="height: 26px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">September 30, 2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 26px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 26px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99181%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Measured at fair value through profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 26px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99863%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Measured at amortized cost</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 26px;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99181%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 26px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.99181%; height: 26px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial assets:</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and banks</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">810,262</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">810,262</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">810,262</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds in local currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,007,837</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,007,837</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,007,837</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">715,951</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">715,951</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">715,951</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds in local currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.b</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,486,281</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,486,281</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,486,281</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.b</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,612,573</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,612,573</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,612,573</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">735,273</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">735,273</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">735,273</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operational</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100,857</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100,857</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">100,857</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.h</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">659,889</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">659,889</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">659,889</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,104,359</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,104,359</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,104,359</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reseller financing</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,411,089</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,411,089</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,411,089</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,394</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,394</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">91,394</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables and other assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">532,972</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">532,972</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">532,972</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,982,300</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,286,437</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,268,737</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,268,737</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities:</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financing and debentures</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,102,080</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9,683,360</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,785,440</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16,713,321</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 11.5pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">544,700</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">544,700</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">544,700</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operational</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37,289</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37,289</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37,289</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.h</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">345,088</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">345,088</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">345,088</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subscription warrants &#8211; indemnification</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 1</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,672</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,672</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56,672</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">96,608</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">96,608</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">96,608</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Contingent consideration</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,606</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,606</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,606</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,875</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">761,733</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">761,733</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">761,733</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38.0016%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.00901%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,085,829</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99863%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,977,316</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,063,145</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,991,026</font></p>




















</td>












</tr>

































</table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>


</div>

</div>

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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">55</font></font></td>











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 530px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Level</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Carrying value</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Carrying value</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value</font></p>




















</td>












</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">December 31, 2024</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Measured at fair value through profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Measured at amortized cost</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial assets:</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; width: 38%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and banks</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 9%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 9%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">405,840</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">405,840</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">405,840</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Securities and funds in local currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,286,152</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,286,152</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,286,152</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Securities and funds in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">379,601</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">379,601</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">379,601</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial investments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Securities and funds in local currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.b</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt; page-break-after: avoid; page-break-inside: avoid;">2,271,979</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,271,979</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,271,979</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Securities and funds in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.b</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,854,126</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,854,126</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,854,126</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">825,783</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">825,783</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">825,783</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt; padding-left: 0px; padding-right: 0px; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operational</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,203</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,203</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,203</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.h</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">404,695</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">404,695</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">404,695</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,913,004</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,913,004</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,913,004</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Reseller financing</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,404,883</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,404,883</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,404,883</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Related parties</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">416</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">416</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">416</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other receivables and other assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">386,853</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">386,853</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">386,853</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,510,660</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,630,875</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,141,535</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14,141,535</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities:</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financing and debentures</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,553,796</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,306,714</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,860,510</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,600,251</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">419,842</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">419,842</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">419,842</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operational</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,758</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,758</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,758</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.h</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 2</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,776</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,776</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114,776</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,518,385</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,518,385</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,518,385</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables - reverse factoring</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.b</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,014,504</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,014,504</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,014,504</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subscription warrants &#8211; indemnification</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Level 1</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,745</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,745</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">47,745</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">180,225</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">180,225</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">180,225</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Contingent consideration</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">42,186</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52,988</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,174</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">95,174</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">171,520</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">171,520</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">171,520</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,200,103</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13,244,336</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br></td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,444,439</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,184,180</font></p>




















</td>












</tr>

































</table>
<div><br></div>

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

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">56</font></font></td>

</tr>



</table>
<div><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The fair value of financial instruments measured at Level 2 is described below:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Securities and funds in local currency: Estimated at the fund unit value as of the date of the financial statements, which corresponds to their fair value.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative instruments: Estimated based on the US dollar futures contracts and the future curves of the DI x fixed rate and DI x IPCA contracts, quoted on B3 on the closing date.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Energy trading futures contracts: The fair value considers: (i) the prices established in recent purchases and sales; and (ii) the market price projected in the availability period. Whenever the fair value at initial recognition differs from the transaction price for these contracts, a gain or loss is recognized.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financing and debentures: Estimated based on the US dollar futures contracts and the future curves of the DI x fixed rate and DI x IPCA contracts, quoted on B3 on the closing date. The fair value calculation of notes in the foreign market used the quoted price in the market.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Financial risk management</font><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are exposed to strategic/operational risks and economic/financial risks. Operational/strategic risks (including demand behavior, competition, technological innovation, and material changes in the industry) are addressed by the Company&#8217;s management model. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Economic/financial risks primarily reflect default of customers, behavior of macroeconomic variables, such as commodities prices, exchange and interest rates, as well as the characteristics of the financial instruments used and their counterparties. These risks are managed through specific strategies and control policies. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company has a financial risk policy approved by its Board of Directors (&#8220;Policy&#8221;). In accordance with the Policy, the main objectives of financial management are to preserve the value and liquidity of financial assets and ensure financial resources for the development of the business, including expansions. The main financial risks considered in the Policy are market risks (currencies, interest rates and commodities), liquidity and credit.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Financial Risk Committee is responsible for monitoring the compliance with the Policy and deciding on any cases of non-compliance. The Audit and Risk Committee (&#8220;CAR&#8221;) advises the Board of Directors in the efficiency of controls and in the review of the Risk Management Policy. The Risk, Integrity and Audit Director monitors the compliance with the Policy and reports to CAR and the Board of Directors the exposure to the risks and any cases of non-compliance with the Policy.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><br></p>

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

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 77px;">

<tr style="height: 47px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 47px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top; height: 77px;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr style="height: 15px;">
<td style="width: 50%; height: 15px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr style="height: 15px;">
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are exposed to the following risks, which are mitigated and managed using specific financial instruments:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Risks</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Exposure origin</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Management</font></p>




















</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; width: 20%;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Market risk - exchange rate</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; width: 2%;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; width: 45%;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Possibility of losses resulting from exposures to exchange rates other than the functional presentation currency, which may be of a financial or operational origin.</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; width: 2%;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; width: 31%;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Seek exchange rate neutrality, using hedging instruments if applicable.</font></p>




















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<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Market risk - interest rate</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Possibility of losses resulting from the contracting of fixed-rate financial assets or liabilities.</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Maintain most of the net financial exposure indexed to floating rates, linked to the basic interest rate.</font></p>




















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<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Market risk - commodity prices</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Possibility of losses resulting from changes in the prices of the main raw materials or products sold by the Company and their effects on profit or loss, statement of financial position and cash flow.</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hedging instruments, if applicable. </font></p>




















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</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Credit risk </font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Possibility of losses associated with the counterparty's failure to comply with financial obligations due to insolvency issues or deterioration in risk classification.</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Diversification and monitoring of counterparty&#8217;s solvency and liquidity indicators.</font></p>




















</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Liquidity risk</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Possibility of inability to honor obligations, including guarantees, and incurring losses.</font></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br></p>




















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px;" valign="middle">
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For cash management: financial investments liquidity. </font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For debt management: seek the combination of better terms and costs, by monitoring the ratio of average debt term to financial leverage.</font></p>




















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</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font><font style="font-size: 10pt; text-align: justify; line-height: inherit;">&#160;</font></p>
















</div>
<div>
<p style="margin: 0pt 0pt 12pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">a. Market risk - exchange and interest rates</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Currency risk management is guided by neutrality of currency exposures and considers the risks associated to changes in exchange rates. The Company considers as its main exposure the assets and liabilities in foreign currency.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries use foreign exchange hedging instruments to protect their assets, liabilities, receipts, disbursements and investments in foreign currencies. These instruments aim to reduce the effects of foreign exchange variations, within the exposure limits of its Policy.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As to the interest rate risk, the Company and its subsidiaries raise and invest funds mainly linked to the DI. The Company seeks to maintain most of its financial assets and liabilities with floating interest rates, adopting instruments that hedge against the risk of changes in interest rates.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><br></p>


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











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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























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<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























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<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























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</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The assets and liabilities exposed to foreign currency, translated to Reais, and/or exposed to floating interest rates are shown below:</font></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Exchange rate</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Interest rate</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Note</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 33%;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash, cash equivalents, and financial investments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 6%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 12%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,837,398</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,428,520</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 6%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,494,118</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,558,131</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables, net of allowance for expected credit losses</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">155,063</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27,393</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Imports in progress</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL/ USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">93,821</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other assets in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">107,184</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21,028</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,099,645</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,570,762</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,494,118</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,558,131</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Liabilities</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, financing and debentures <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD/ EUR/ JPY</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7,134,218)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,681,657)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,547,278)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,515,010)</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans &#8211; FINEP</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">TJLP</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(28,297)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(679)</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Payables arising from imports</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.a</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,142,031)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(936,140)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other liabilities in foreign currency</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,011)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(41,298)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,279,260)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7,659,095)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(4,575,575)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,515,689)</font></p>




















</td>












</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative instruments</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">26.f</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD / EUR / JPY</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,499,893</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,470,855</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8,566,380)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,380,131)</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">320,278</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(617,478)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,647,837)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,337,689)</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net liability position - equity</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">189,046</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net liability position - profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">131,232</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(617,478)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(10,647,837)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,337,689)</font></p>




















</td>












</tr>

































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Gross transaction costs of R$ 25,819 (R$ 7,807 as of December 31, 2024) and discount on notes in the foreign market of R$ 4,114 (R$ 5,246 as of December 31, 2024).</font></font></td>












</tr>

























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Sensitivity analysis with devaluation of the Real and interest rate increase</font></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 89px;" width="100%">

<tr style="height: 24px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 24px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 24px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Exchange rate - Real devaluation <sup>(i)</sup></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 24px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 24px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-size: 8pt; font-family: 'times new roman', times; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Interest rate increase </font><sup><font style="font-weight: bold; line-height: inherit;">(ii)</font></sup></font></p>




















</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Effect on profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,012</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(59,628)</font></p>




















</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Effect on equity</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,248</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>




















</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,260</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(59,628)</font></p>




















</td>




















</tr>









































</table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></sup></td>
<td style="width: 97%; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The average U.S. dollar rate of R$ 5.5256 was used for the sensitivity analysis, based on future market curves as of September 30, 2025 on the net position of the Company exposed to the currency risk, simulating the effects of devaluation of the Real on profit or loss. The closing rate considered was R$ 5.3186. The table above shows the effects of the exchange rate changes on the net asset position of R$ 320,278 (or US$ 60,218 using the closing rate) in foreign currency as of September 30, 2025.</font></td>












</tr>
<tr>
<td style="vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></sup></td>
<td valign="top" style="vertical-align: top; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the probable scenario presented, the Company used as a base scenario the market curves affected by the Interbank Deposit (DI) rate and the Long-Term Interest Rate (TJLP). The sensitivity analysis shows the incremental expenses and income that would be recognized in financial result, if the market curves of floating interest at the base date were applied to the average balances of the current year. The annual base rate used was 14.90% and the sensitivity rate was 14.34% according to reference rates made available by B3.</font></td>












</tr>

























</table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>

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

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











</tr>























</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Market risk - commodity prices</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries are exposed to commodity price risk, mainly in relation to diesel and gasoline, affected by macroeconomic and geopolitical factors.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The foreign exchange derivative instruments and commodities designated as fair value hedge are concentrated in subsidiary IPP. The objective is to convert the cost of the imported product from fixed to variable until fuel blending, aligning it to the sales price. IPP uses over-the-counter derivatives for this hedge operation, aligning them with the value of the inventories of imported product.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">To mitigate this risk, the Company continuously monitors the market and uses hedge operations with derivative contracts, traded on the stock exchange and the over-the-counter market.</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 40px; width: 100%;" width="100%">

<tr style="height: 12px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Derivative</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value (R$ thousand)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-size: 8pt; font-family: 'times new roman', times; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">Possible scenario (&#8710; of 10% - R$</font><font style="font-weight: bold; line-height: inherit;">&#160;</font><font style="font-weight: bold; line-height: inherit;">thousand)</font></font></p>




















</td>




















</tr>
<tr style="height: 12px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 36%; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 12px;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 12px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















</td>




















</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Commodity forward</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(16,366)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7,707)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(69,496)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(12,430)</font></p>




















</td>




















</tr>









































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">(1)</font></sup></font></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The table above shows the positions of derivative financial instruments to hedge commodity price risk as of September 30, 2025 and December 31, 2024, in addition to a sensitivity analysis considering a valuation of 10% of the closing price for each year. For further information, see Note 26.f.</font></td>












</tr>

























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>




















</div>
<div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">c. Credit risk</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Credit risk is related to the possibility of non-compliance with a commitment by a counterparty in a transaction. Credit risk is managed strategically and arises from cash equivalents, financial investments, derivative financial instruments and trade receivables, among others.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">c.1 Financial institutions and government</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The credit risk of financial institutions and governments related to cash and cash equivalents, financial investments and derivative financial instruments as of September 30, 2025, by counterparty rating, is summarized below: </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value</font></p>




















</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Counterparty credit rating</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 78%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">AAA</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,158,014</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,557,385</font></p>




















</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">AA</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">246,289</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">305,686</font></p>




















</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">A</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10,810</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,668</font></p>




















</td>




















</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Others</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">53,921</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">162,338</font></p>




















</td>




















</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,469,034</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,029,077</font></p>




















</td>




















</tr>









































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">c.2 Trade receivables</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Credit granting is managed in subsidiaries based on policies and criteria specific to each business segment. The process includes credit analysis, the establishment of limits and required guarantees, with approval at predefined approval levels.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The subsidiaries manage credit throughout the customer&#8217;s life cycle, with specific processes for monitoring credit risk and renegotiating or executing credit, as applicable.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For further information on the allowance for expected credit losses, see Note 5.b.</font></p>


</div>

</div>

</div>
<div>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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











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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">d. Liquidity risk</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Liquidity risk is the possibility of the Company facing difficulties to comply with its financial obligations, which must be settled with payments or other financial assets. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The main sources of liquidity of the Company and its subsidiaries arise from:</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 30px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="width: 7%; height: 10px; vertical-align: top;" valign="top"><br></td>
<td style="width: 5%; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 88%; text-align: justify; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">cash and financial investments;</font></td>










</tr>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top;" valign="top"><br></td>
<td style="height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="text-align: justify; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">cash flow generated by its operations; and</font></td>










</tr>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top;" valign="top"><br></td>
<td style="height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; line-height: inherit;">&#160;</font></td>
<td style="text-align: justify; height: 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">loans.</font></td>










</tr>





















</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries have sufficient working capital and sources of financing to meet their current needs. As of September 30, 2025, the Company and its subsidiaries had R$ 4,023,674 in cash, cash equivalents, and short-term financial investments (for quantitative information, see Note 4).</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font><font style="font-size: 10pt; line-height: inherit;">&#160;</font></p>
















</div>
<div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below presents a summary of financial liabilities and leases payable as of September 30, 2025 by the Company and its subsidiaries, listed by maturity. The amounts presented are the contractual undiscounted cash flows, and may differ from the amounts disclosed in the statement of financial position:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Less than 1 year</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Between 1 and 3 years</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Between 3 and 5 years</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">More than 5 years</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 50%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Loans, including future contractual interest <font style="font-size: 8pt;"><sup>(1) (2)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,376,640</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11,154,241</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,854,893</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,904,675</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,290,449</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative instruments <font style="font-size: 8pt;"><sup>(3)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">956,061</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">686,530</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">242,771</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">40,521</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,925,883</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,413,134</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">453,252</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">584,459</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">378,732</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,240,494</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,656,937</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">77,980</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">62,001</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">139,981</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other payables</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">147,594</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,851</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">155,445</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8,424,661</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12,495,082</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,476,396</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,185,690</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30,581,829</font></p>




















</td>












</tr>

































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The interest on loans was estimated based on the US dollar, Euro at closing and on the future yield curves of the DI x fixed rate and DI x IPCA contracts, quoted on B3 ad BACEN as of September 30, 2025.</font></td>












</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes estimated interest on short-term and long-term loans until the contractually foreseen payment date.</font></td>












</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></sup></font></td>
<td style="text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The derivative instruments were estimated based on the US dollar futures contracts and the future curves of the DI x fixed rate and DI x IPCA contracts, quoted on B3 as of September 30, 2025. In the table above, only the derivative instruments with negative results at the time of settlement were considered.</font></td>












</tr>

























</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">e. Capital management </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company manages and optimizes its capital structure based on indicators to ensure business continuity while maximizing return to its shareholders. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Capital structure is comprised of net debt (loans, financing and debentures (Note 15) and leases payable (Note 12.b), after deduction of cash, cash equivalents and financial investments (Note 4), and the &#8220;financial&#8221; derivative financial instruments, assets and liabilities, according to Note 26 Classes and categories of financial instruments and their fair values, and equity.</font></p>

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</div>

</div>
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<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><br></p>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">61</font></font></td>











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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
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<tr>
<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























</tr>






















































</table>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company may change its capital structure according to economic and financial conditions. Moreover, the Company also seeks to improve its return on invested capital by implementing efficient working capital management and a selective investment program.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Annually, the Company and its subsidiaries revise their capital structure, evaluating the cost of capital and the risks associated with each class of capital including the leverage ratio analysis, which is determined as the ratio between net debt and equity. </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><br></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The leverage ratio at the end of the period/year is as follows:</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 146px; width: 100%;" width="100%">

<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Consolidated</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 78%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gross debt and lease payable (a)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,493,316</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; width: 10%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,345,662</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash, cash equivalents, and short-term investments (b)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,632,904</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,197,699</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial instruments (c)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">190,573</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">405,941</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net debt = (a) - (b) - (c)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">11,669,839</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">7,742,022</font></p>




















</td>












</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Equity</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18,666,586</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15,823,444</font></p>




















</td>












</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net debt-to-equity ratio</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">62.52%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">48.93%</font></p>




















</td>












</tr>

































</table>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">f. Selection and use of derivative financial instruments</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In selecting derivative instruments, the Company considers the estimated rates of return, risks, liquidity, calculation methodology for the carrying and fair values, and the applicable documentation.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments are used to hedge identified risks, at amounts that do not exceed 100% of the identified risk. Derivatives are referred to as "derivative instruments" to reflect their restricted function of hedging identified risks.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><br></p>

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

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











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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<div>
<p style="margin: 0pt; line-height: 1.2; text-align: left;"><br></p>




















<br></div>
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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























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</table>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<div>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below summarizes the gross balance of the position of derivative instruments contracted as well as of the gains (losses) that affect the equity and the statement of income of the Company and its subsidiaries: </font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 1pt;">
<td colspan="4" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Derivatives designated as hedge accounting</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Product</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Contracted rates</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Maturity</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Notional amount <sup>(2)</sup></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value as of 09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Gains (losses) as of 09/30/2025</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">09/30/2025</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value adjustment of debt - R$</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 21%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 4.7%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102.9% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Mar/27</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 198,760</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,511</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (114,354)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (229,211)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (7,567)</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR + 3.0%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104.0% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Feb/37</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR 77,535</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (36,265)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (67,273)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,139</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">JPY + 1.5%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.4% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (30,066)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (323)</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">SOFR + 0.9%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102.9% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Feb/26</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 100,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (53,124)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (76,980)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (1,080)</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA + 5.3%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">102.5% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/34</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 3,125,355</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 383,527</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (9,595)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 51,893</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (95,175)</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA + 3.0%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69.9% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nov/41</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 358,871</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (16,728)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (15,202)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 47,700</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12.8%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104.7% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Apr/40</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 1,048,881</font></p>




















</td>
<td style="vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,401</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (24,958)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 19,067</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (39,530)</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Commodity forward <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Heating Oil/ RBOB</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nov/26</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 178,725</font></p>




















</td>
<td style="vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 13,860</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (21,710)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (3,188)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">NDF <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dec/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 363,895</font></p>




















</td>
<td style="vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,464</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (3,179)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 19,232</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total - designated</font></p>




















</td>
<td style="vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 403,763</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (279,913)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (331,728)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (94,836)</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td colspan="4" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Derivatives not designated as hedge accounting</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















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</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
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</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 0.0%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52.5% CDI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/29</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 300,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 345,370</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (199,572)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 5.0%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI + 1.6%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Feb/31</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 50,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (12,164)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (80,348)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">NDF</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Oct/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 130,728</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 85,641</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (5,707)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (33,274)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Commodity forward</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Heating Oil/ RBOB</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Feb/26</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 1,257</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,356</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (9,872)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 13,059</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 5.3%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI - 1.4%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/29</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 300,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (274,333)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (10,720)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total - not designated</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 432,367</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (302,076)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (310,855)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 836,130</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (581,989)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (642,583)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (94,836)</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">180,981</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(205,539)</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>












</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">655,149</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(376,450)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>












</tr>

































</table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">(1)</font></sup></font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font></td>
<td style="width: 97%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative financial instruments designated for fair value hedge accounting (see Note 26.g.1).</font></td>












</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="width: 50%; text-align: justify;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Currency as indicated.</font></td>












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<p style="margin: 0pt; line-height: 1.2;">&#160;</p>


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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">63</font></font></td>











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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>











</div>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
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<td style="width: 50%; padding: 0px; vertical-align: bottom;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























</td>
<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























</tr>
<tr>
<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























</tr>
<tr>
<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























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<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<tr style="height: 16px;">
<td colspan="4" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Derivatives designated as hedge accounting</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Product</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Contracted rates</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Maturity</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Notional amount <sup>(3)</sup></font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value as of 12/31/2024</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Gains (losses) as of 09/30/2024</font></p>




















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<tr style="height: 43px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">12/31/2024</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Assets</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Profit or loss</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 43px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Fair value adjustment of debt - R$</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 21%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 5.5%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.9% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sept/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 206,067</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 76,649</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,808)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 107,921</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,941</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR + 5.2%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.4% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Mar/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">EUR 115,518</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 76,123</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 50,542</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,308)</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">JPY + 1.5%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109.4% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Mar/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">JPY 12,564,393</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (45,826)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 48,576</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">336</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">SOFR + 1.3%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">112.5% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sept/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 4,535</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,114</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> -</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (445)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(209)</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5.1%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">104.0% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/32</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 2,660,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 189,155</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (166,318)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">166,941</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">IPCA + 2.8%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69.5% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Nov/41</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 151,465</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(3,321)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 10.5%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">103.6% DI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jul/27</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL 525,791</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (53,638)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (33,845)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,757</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Commodity forward <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Heating Oil/ RBOB</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dec/24</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 5,753</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,104</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (11,869)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (17,086)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">NDF <font style="font-size: 8pt;"><sup>(1)</sup></font></font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Dec/24</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 6,853</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 729</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (6,022)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (33,034)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total - designated</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 347,874</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (124,484)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (43,689)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">201,458</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td colspan="4" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;">Derivatives not designated as hedge accounting</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Foreign exchange swap</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 0.0%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52.5% CDI</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/29</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 300,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 465,032</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 142,658</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">NDF</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sept/24</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 15,425</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> 13,546</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6,501)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 42,881</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Commodity forward</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">BRL</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Heating Oil/ RBOB</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Feb/25</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 2,422</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,926</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (3,867)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 38,896</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Interest rate swap</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD + 5.2%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">CDI - 1.4%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun/29</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">USD 300,000</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (306,748)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (84,475)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total - not designated</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 483,504</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (317,116)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 139,960</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#8208;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 831,378</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (441,600)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 96,271</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">201,458</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>












</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Current</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">246,084</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(74,087)</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; background-color: #cceeff;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















</td>












</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-current</font></p>




















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">585,294</font></p>




















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(367,513)</font></p>




















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">-</font></p>




















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<p style="margin: 0pt; line-height: 1.2;"><br></p>
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<td style="width: 3%; vertical-align: top; height: 16px;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97%; vertical-align: top; height: 16px; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative financial instruments designated for fair value hedge accounting (see Note 26.g.1).</font></td>











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<td style="vertical-align: top; height: 16px;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="vertical-align: top; height: 16px; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Currency as indicated.</font></td>











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











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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>


























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<td style="width: 50%; vertical-align: top;" rowspan="3" valign="top"><font style="font-size: 10pt; line-height: inherit;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>


























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<td style="width: 50%;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">Notes to the interim financial information</font></td>


























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<td style="width: 50%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">For the periods ended September 30, 2025</font></td>


























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<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
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<p style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">g. Hedge accounting</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries use derivative and non-derivative financial instruments for hedging purposes and test, throughout the duration of the hedge, their effectiveness, as well as the changes in their fair value.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The hedged items and the hedging instruments have a high correspondence, since the contracted instruments have characteristics equivalent to the transactions considered as the hedged item. The Company and its subsidiaries designated a hedge ratio for transactions designated as hedge accounting, since the underlying risks of the hedging instruments correspond to the risks of the hedged items.</font></p>
<p style="margin: 0pt; text-indent: 28.35pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries discontinue the hedge accounting when the hedging instrument is settled, the hedged item ceases to exist or the hedge no longer meets the requirements for hedge accounting due to the absence of an economic relationship between the hedged item and the hedging instrument.</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">g.1 Fair value hedge</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company and its subsidiaries use derivative financial instruments such as fair value hedge to mitigate the risk of variations in interest and exchange rates, which affect the amount of contracted debts. As of September 30, 2025, no material ineffectiveness was identified in fair value hedge operations.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="font-weight: bold; line-height: inherit;">g.2</font><font style="font-weight: bold; line-height: inherit;"><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: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&#160;</font></font></font><font style="font-weight: bold; line-height: inherit;">Cash flow hedge</font></font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The subsidiary Hidrovias Cabotagem adopts cash flow hedge to protect part of its future revenues in dollars, linked to a long-term contract, using the principal of the debt in foreign currency contracted from BNDES as a hedging instrument.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Exchange rate variations are recognized on a monthly basis in other comprehensive income and reclassified to statement on income as the hedged revenues are recognized.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The effectiveness of the hedge is monitored according to the offsetting variations between the instrument and the hedged item.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">From 2025 onwards, subsidiary Hidrovias began to present the effects of Cabotagem as Discontinued Operation, see Note 28.</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">h. Financial instruments (energy trading futures contracts)</font></p>
<p style="margin: 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company&#8217;s subsidiaries operate in the Free Contracting Environment (ACL) and have entered into bilateral energy purchase and sale contracts with different market players. Accordingly, they assume short and long-term commitments. As a result of mismatched operations, they assume energy surplus or deficit positions, which are measured at a future market price curve (forward curve). Therefore, the Company designates these contracts as financial instruments, according to IFRS 9/CPC 48, at the beginning of the contract, to include the recording of the correct exposure to the risk of future purchase and sale transactions of bilateral contracts. </font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Sensitivity analysis &#8211; level 2 hierarchy</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Valuation technique</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>




















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<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Sensitivity of inputs to fair value <sup>(a)</sup></font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial assets</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Discounted cash flow method</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; width: 19%; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">659,889</font></p>




















</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















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<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; width: 10%; vertical-align: middle; text-align: right;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">+10%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; width: 19%; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">815,162</font></p>




















</td>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: middle; text-align: right;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-10%</font></p>




















</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 16px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">505,405</font></p>




















</td>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">345,088</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">535,173</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-10%</font></p>




















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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">189,707</font></p>




















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<td style="width: 97%; text-align: justify; height: 10px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">This 10% variation scenario represents a fluctuation considered reasonable by the Company, based on the history of negotiations concluded under similar market conditions.</font></td>










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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























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<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























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<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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<div style="background-color: #002060; margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_12_6102025122442554"><font style="font-family: 'trebuchet ms', geneva;"><font style="color: #ffffff; font-size: 11pt; font-weight: bold; line-height: inherit; font-family: 'times new roman', times;"><font style="font-size: 10pt;">27. Acquisition of Interest and Control</font></font></font></a></div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'trebuchet ms', geneva; font-size: 11pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Acquisition of service stations from P&#227;o de A&#231;&#250;car Group by subsidiary Millennium</font></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On June 10, 2024, through its subsidiary Centro de Conveni&#234;ncias Millenium Ltda., the Company signed a contract for the acquisition of <font style="border-left: none; border-right: none;">49</font> service stations from P&#227;o de A&#231;&#250;car Group, located in the state of S&#227;o Paulo, for R$ <font style="border-left: none; border-right: none;">130,000</font> plus working capital adjustments. CADE approved the transaction on July 22, 2024. On August 13, 2024, R$ <font style="border-left: none; border-right: none;">90,000</font> was paid as an advance. </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">During the period ended September 30, 2025, the acquisition of <font style="border-left: none; border-right: none;">11</font> out of <font style="border-left: none; border-right: none;">49</font> service stations was completed for a total amount of R$ <font style="border-left: none; border-right: none;">25,583</font>, of which R$ <font style="border-left: none; border-right: none;">16,518</font> had previously been paid as an advance.&#160; </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Hidrovias do Brasil S.A.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">In <font style="border-left: none; border-right: none;">2023</font>, the Company began the process of acquiring an interest in Hidrovias do Brasil S.A. (&#8220;Hidrovias&#8221;), through the purchase of a <font style="border-left: none; border-right: none;">4.99</font>% direct interest and a <font style="border-left: none; border-right: none;">4.99</font>% indirect interest, through Total Return Swaps (&#8220;TRS&#8221;), recognized as financial asset and measured at fair value in accordance with IFRS <font style="border-left: none; border-right: none;">9</font>/CPC <font style="border-left: none; border-right: none;">48</font>. On March 18, 2024, the Company contributed its direct interest to its subsidiary Ultra Log&#237;stica Ltda. and settled the TRS. From this date, all transactions have been carried out through subsidiary Ultra Log&#237;stica Ltda. </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On May 7, 2024, subsidiary Ultra Log&#237;stica completed the purchase of <font style="border-left: none; border-right: none;">128,369,488</font> shares from Hidrovias, which represented <font style="border-left: none; border-right: none;">16.88</font>% of its share capital, at a cost of R$ <font style="border-left: none; border-right: none;">3.98</font>/share. Also in May 2024, when obtaining sufficient evidence demonstrating its power to exert significant influence on decisions regarding Hidrovias' financial and operational policies, subsidiary Ultra Log&#237;stica began to recognize its interest in Hidrovias as an investment in an associate with significant influence, in accordance with IAS <font style="border-left: none; border-right: none;">28</font>/CPC <font style="border-left: none; border-right: none;">18</font>.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Subsequently, throughout the first quarter of <font style="border-left: none; border-right: none;">2025</font>, subsidiary Ultra Log&#237;stica acquired additional shares of Hidrovias through trading on the Stock Exchange (&#8220;B<font style="border-left: none; border-right: none;">3</font>&#8221;) in the amount of R$ <font style="border-left: none; border-right: none;">7,373</font>. With these acquisitions, Ultra Log&#237;stica's interest in Hidrovias reached <font style="border-left: none; border-right: none;">42.26</font>% of the share capital.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">In the second quarter of <font style="border-left: none; border-right: none;">2025</font>, Ultra Log&#237;stica acquired a total of <font style="border-left: none; border-right: none;">99,790,131</font> shares of Hidrovias for R$<font style="border-left: none; border-right: none;">159,171</font>. Of this amount, <font style="border-left: none; border-right: none;">17,103,100</font> refer to common shares (HBSA<font style="border-left: none; border-right: none;">3</font>), in the amount of R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;"><font style="border-left: none; border-right: none;">43,206</font>, and <font style="border-left: none; border-right: none;">82,687,031</font> correspond to subscription rights (HBSA<font style="border-left: none; border-right: none;">1</font> and HBSA<font style="border-left: none; border-right: none;">9</font>), in the amount of R$ <font style="border-left: none; border-right: none;">115,965</font>, all linked to the capital increase in Hidrovias.</font></font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The acquisition of control occurred in May 2025, with the approval of the capital increase in Hidrovias. On that occasion, the share capital of Hidrovias was increased by R$ <font style="border-left: none; border-right: none;">1,200,000</font> with the issuance of <font style="border-left: none; border-right: none;">600,000,000</font> shares, rising from R$ <font style="border-left: none; border-right: none;">1,359,469</font> (<font style="border-left: none; border-right: none;">760,382,643</font> shares) to R$ <font style="border-left: none; border-right: none;">2,559,469</font> (<font style="border-left: none; border-right: none;">1,360,382,643</font> shares). Therefore, with the conversion of subscription rights (HBSA<font style="border-left: none; border-right: none;">1</font> and HBSA<font style="border-left: none; border-right: none;">9</font>) into common shares (HBSA<font style="border-left: none; border-right: none;">3</font>), Ultra Log&#237;stica now holds <font style="border-left: none; border-right: none;">682,252,831</font> common shares, representing <font style="border-left: none; border-right: none;">50.15</font>% of the total share capital of Hidrovias, thus consolidating the acquisition of corporate control.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company, based on applicable accounting standards and with the support of a company specialized in valuations, carried out, in the same month the control was acquired, the provisional allocation of the purchase price (&#8220;Purchase Price Allocation&#8221; &#8211; PPA), with the identification of assets acquired and liabilities assumed measured at fair value and the recognition of the accounting goodwill. Additionally, the Company does not expect the tax amortization of revaluation of assets and liabilities remeasured at fair value.&#160; Therefore, the deferred income tax liability is recognized on the provisional capital gains and losses recorded. The allocation was considered provisional due to the ongoing analyses necessary to conclude the measurement of fair value of the identifiable assets and liabilities acquired. The Company predicts to conclude the process and perform the final allocation until the closing of the financial year <font style="border-left: none; border-right: none;">2025</font>.</font></p>













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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table below summarizes the consolidated balances of assets acquired and liabilities assumed at the acquisition date recognized at fair value, reflecting the purchase price allocations and provisional goodwill determination:</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="border-left: none; border-right: none;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 446px; width: 100%;" width="100%">

<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; width: 90%; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;"> Assets </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; width: 10%; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash and cash equivalents </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160; <font style="border-left: none; border-right: none;">1,155,510</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Bonds and other securities </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">1,171</font> </font></p>






















</td>





















</tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade receivables </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">119,082</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Inventories </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">168,889</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Recoverable taxes </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">198,360</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Prepaid expenses </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">65,607</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Related parties </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">5,825</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other receivables </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">137,093</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Assets of subsidiaries held for sale </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">736,540</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Escrow deposits </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">67,375</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Deferred tax assets </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="border-left: none; border-right: none;">74,730</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other investments </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">121,710</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160; <font style="border-left: none; border-right: none;">4,419,200</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Intangible assets, net </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160; <font style="border-left: none; border-right: none;">912,191</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Right-of-use asset, net </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">331,202</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Derivative instruments </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">6,270</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;"> Liabilities </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Loans and financing </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160; <font style="border-left: none; border-right: none;">3,331,412</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade payables </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">104,490</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Salaries and related charges </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">46,246</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Taxes payable, income and social contribution taxes payable </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">126,869</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Deferred tax liabilities </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">561,393</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Legal claims </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">95,428</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Advances from customers </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">7,365</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Leases payable </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">286,778</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other payables </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">119,491</font> </font></p>






















</td>





















</tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Liabilities of subsidiaries held for sale </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">500,708</font> </font></p>






















</td>





















</tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Derivative instruments </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="border-left: none; border-right: none;">52,643</font> </font></p>






















</td>





















</tr>












































 </table>






















</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>







</div>













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

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


















</tr>





































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div style="margin: 0 auto;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 86px;">

<tr style="height: 52px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 52px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div style="border-left: none; border-right: none;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 203px; width: 100%;" width="100%">

<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; width: 90%; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Goodwill based on expected future profitability </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; width: 10%; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">360,436</font> </font></p>






















</td>





















</tr>
<tr style="height: 11px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 11px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Non-controlling interests</font><font style="font-size: 8pt;"><sup><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">1</font>)</font></sup></font></font></p>






















 </td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 11px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">1,639,034</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Assets and liabilities consolidated in the opening balance </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">2,009,334</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Assets acquired </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,273,159</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Liabilities assumed </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">2,624,261</font>) </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Goodwill based on expected future profitability </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">360,436</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Final investment in <font style="border-left: none; border-right: none;">50.15</font>% interest </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">2,009,334</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Reversal of the non-cash effect of the acquisition </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Gain on acquisition of control of associate </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">113,655</font>) </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Share of profit (loss) of subsidiaries, joint ventures and associates before acquisition of control </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">148,518</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Acquisition value - cash </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">2,044,197</font> </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash and cash equivalents acquired </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">1,155,510</font>) </font></p>






















</td>





















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net cash from transaction </font></p>






















</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">888,687</font> </font></p>






















</td>





















</tr>












































 </table>






















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

<tr style="height: 10px;">
<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup>(1)</sup></font></td>
<td style="width: 97%; height: 10px; vertical-align: top;" valign="top"><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; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The non-controlling interest is determined based on the net value of assets and liabilities on the acquisition date, considering the proportion of&#160;</font><font style="border-left: none; border-right: none;">49.85</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%.</font></font></td>





















</tr>











































</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The gain in the acquisition of control of an associate results from the change in its corporate classification, from associate to subsidiary, after a series of acquisitions in stages with the objective of acquiring control. Until then, the investment was accounted for under the equity method, in accordance with CPC <font style="border-left: none; border-right: none;">18</font> (R<font style="border-left: none; border-right: none;">2</font>) / IAS <font style="border-left: none; border-right: none;">28</font>. With the acquisition of control, assets, liabilities, revenues and expenses are fully consolidated, in accordance with CPC <font style="border-left: none; border-right: none;">36</font> (R<font style="border-left: none; border-right: none;">3</font>) / IFRS <font style="border-left: none; border-right: none;">10</font>. In line with the provisions of CPC <font style="border-left: none; border-right: none;">15</font> (R<font style="border-left: none; border-right: none;">1</font>) / IFRS <font style="border-left: none; border-right: none;">3</font>, the previously held interest was measured at fair value on the acquisition date, and the effects of this revaluation were recognized in the investment goodwill, as required by the accounting standard. In view of the various stages of acquisitions of Hidrovias, <font style="border-left: none; border-right: none;">two</font> revaluation effects were recognized on the investment goodwill, as shown in the table below:</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="border-left: none; border-right: none;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 72px; width: 100%;" width="100%">

<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="margin: 0px; text-indent: 0px; width: 90%; background-color: #cceeff; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Revaluation of investment </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Revaluation of investment (from financial asset to associate) - IFRS <font style="border-left: none; border-right: none;">9</font> / IAS <font style="border-left: none; border-right: none;">28</font> </font><font style="font-size: 8pt;"><sup><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">1</font>)</font></sup></font></font></p>






















 </td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">66,267</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Revaluation of investment (from associate to subsidiary) - IAS <font style="border-left: none; border-right: none;">28</font> / IFRS <font style="border-left: none; border-right: none;">3</font> </font><font style="font-size: 8pt;"><sup><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">2</font>)</font></sup></font></font></p>






















 </td>
<td style="margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">47,388</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Gain on acquisition of control of associate </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">113,655</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">Write-off of accumulated effects in equity before control - IAS <font style="border-left: none; border-right: none;">28</font> / IFRS <font style="border-left: none; border-right: none;">3</font> </font><font style="font-size: 8pt;"><sup><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">2</font>)</font></sup></font></font></p>






















 </td>
<td style="margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">43,717</font> </font></p>






















</td>






















 </tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">157,372</font> </font></p>






















</td>






















 </tr>













































 </table>






















</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 32px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 16px;">
<td style="width: 3%; height: 16px;"><font style="font-size: 8pt;"><sup>(1)</sup></font></td>
<td style="width: 97%; height: 16px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Transition from financial asset to investment in associate, recognized in May 2024 in financial results.</font></td>





















</tr>
<tr style="height: 16px;">
<td style="height: 16px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup>(2)</sup></font></td>
<td style="height: 16px; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Transition from investment in associate to investment in subsidiary, recognized in May 2025 under the equity method. Additionally, as provided for in the applicable accounting standard, the accumulated balances in other comprehensive income, recorded since the significant influence was obtained, were fully reversed to profit or loss for the period. The total impact of the transition was R$<font>&#160;</font></font><font style="border-left: none; border-right: none;">91,105</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>





















</tr>











































</table>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-variant: normal; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: inherit;">&#160;&#160;</font></font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">After acquiring control of Hidrovias, the Company, through its subsidiary, acquired additional interests. Such acquisitions do not fall within the scope of business combinations for the purposes of price and goodwill allocation. Therefore, the difference between the price paid and the equity value of the shares acquired was recorded in equity, under shareholder transactions. Through these additional acquisitions, the interest in Hidrovias on September 30, 2025 was <font style="border-left: none; border-right: none;">55.04</font>%.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">From the date of acquisition until September 30, 2025, Hidrovias contributed to the Company with net revenue of R$ <font style="border-left: none; border-right: none;">1,163,310</font> and net income of R$ <font style="border-left: none; border-right: none;">170,841</font>. If the acquisition had taken place on January 1, 2025, the Company would have consolidated net revenue of R$ <font style="border-left: none; border-right: none;">105,184,298</font> and net income of R$ <font style="border-left: none; border-right: none;">2,164,978</font>.</font></p>



















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


















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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
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<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 52px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























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<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























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<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">c. Ultragaz Comercializadora de Energia (formerly WTZ Participa&#231;&#245;es S.A.)</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On September 1, 2024, through its subsidiary Cia Ultragaz, the Company acquired <font style="border-left: none; border-right: none;">51.7</font>% of the voting capital of Ultragaz Comercializadora (formerly WTZ Participa&#231;&#245;es S.A.), qualifying the transaction as a business combination as defined in IFRS <font style="border-left: none; border-right: none;">3</font> (CPC <font style="border-left: none; border-right: none;">15</font> (R<font style="border-left: none; border-right: none;">1</font>)) &#8211; Business Combinations.&#160; This acquisition is in line with Ultragaz's strategy to expand its offering of energy solutions to its customers, leveraging on its capillarity, commercial strength, brand and extensive base of corporate and residential customers.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultragaz Comercializadora was founded in <font style="border-left: none; border-right: none;">2015</font> and its main activities are the sale of electric energy in the free market and energy management, with a national presence. </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">The initial payment, including the capital contribution in the amount of R$ <font style="border-left: none; border-right: none;">49,490</font>, totaled R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;"><font style="border-left: none; border-right: none;">104,490</font>. During the period, amounts relating to contingent consideration were paid, totaling R$</font><font style="line-height: inherit;">&#160;</font><font style="line-height: inherit;"><font style="border-left: none; border-right: none;">44,806</font>. The remaining transaction amount of R$ <font style="border-left: none; border-right: none;">578</font> was recorded under &#8220;Other payables&#8221;. The Company, based on applicable accounting standards and supported by an independent appraisal firm, calculated the definitive amounts for the purchase price allocation as of September 30, 2025, and determined the final goodwill in the amount of R$ <font style="border-left: none; border-right: none;">42,260</font>.</font> </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The following table summarizes the consolidated balances of assets acquired and liabilities at the acquisition date, recognized at fair value:</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 331px; width: 100%;" width="100%">

<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 90%; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;"> Assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 10%; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>




















</tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash and cash equivalents </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">5,399</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade receivables </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">33,168</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Recoverable taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">3,036</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Prepaid expenses </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">170</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other receivables </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">306</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other investments </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">5</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">1,684</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Intangible assets, net </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">19,504</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Derivative instruments </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">209,348</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-decoration: underline; line-height: inherit;"> Liabilities </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Loans and financing </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">68</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade payables </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">27,541</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Salaries and related charges </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">2,211</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Taxes payable, income and social contribution taxes payable </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">80,918</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other payables </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">3,221</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br></td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Goodwill based on expected future profitability </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">42,260</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Non-controlling interests </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">76,633</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Assets and liabilities consolidated in the opening balance </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">124,288</font> </font></p>






















</td>




















</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"></td>




















</tr>









































</table>




















</div>



















</div>



















</div>













</div>
<div style="border-left: none; border-right: none;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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


















</tr>





































</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>


















</div>
<div style="border-left: none; border-right: none;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="border-left: none; border-right: none;"><br></div>
<div style="margin: 0 auto;">
<div style="line-height: 1.2; margin: 0px; text-indent: 0px;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 86px;">

<tr style="height: 52px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 52px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























</tr>






























































</table>
<div style="border-left: none; border-right: none;"><br>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 282px; width: 100%;" width="100%">

<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Assets acquired </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> <font style="border-left: none; border-right: none;">140,945</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Liabilities assumed </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> <font style="border-left: none; border-right: none;">58,917</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Goodwill based on expected future profitability </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">42,260</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Acquisition value </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">124,288</font> </font></p>






















</td>




















</tr>
<tr style="background-color: #cceeff; height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px;"><br></td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Comprised by: </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">55,000</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Acquisition of ownership interest via capital contribution (as non-controlling interests) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">23,904</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Contingent consideration settled </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">44,806</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Contingent consideration to be settled </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">578</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total consideration </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">124,288</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 16px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; margin: 0px; text-indent: 0px; height: 16px;"><br></td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Net cash outflow resulting from acquisition </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Initial consideration in cash </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">55,000</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Contingent consideration settled </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">44,806</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Contingent consideration to be settled </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">578</font> </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash and cash equivalents acquired </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">5,399</font>) </font></p>






















</td>




















</tr>
<tr style="height: 16px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Acquisition value </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">94,985</font> </font></p>






















</td>




















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<div style="background-color: #002060; margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_13_6102025122530323"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">28. Discontinued operation</font> </font></a></div>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Cabotagem purchase and sale agreement </font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On February 27, 2025, Hidrovias entered into an agreement for the sale of all shares in HB &#8211; Cabotagem (&#8220;Cabotagem&#8221;) to Companhia de Navega&#231;&#227;o Norsul (&#8220;Norsul&#8221;). The cabotage operation was acquired by Hidrovias in <font style="border-left: none; border-right: none;">2016</font> for the performance of a contract dedicated to the transportation of bauxite from the Porto Trombetas mine to the client's alumina refinery in Barcarena, expiring in <font style="border-left: none; border-right: none;">2034</font>.</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;"> The total sale amount (enterprise value) is R$ <font style="border-left: none; border-right: none;">715</font> million, which <font style="border-left: none; border-right: none;">195</font> million referring to the amount of equity (equity value) and R$ <font style="border-left: none; border-right: none;">521</font> million of debt amount, as of December 31, 2024.&#160; The full amount will be paid on the closing date of the transaction, and will be subject to usual price adjustments for this type of transaction, including working capital adjustments.</font> <font style="line-height: inherit;">The transaction was approved by CADE without restrictions on April 16, 2025. </font></font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On September 30, 2025, Hidrovias performed the impairment test on the assets and identified a difference between the transaction value and the carrying amount of the assets. Therefore, it recognized in the statement of income for the period the amount net of income tax of R$ <font style="border-left: none; border-right: none;">71,720</font> related to the impairment, even in the absence of evidence of operational deterioration of the assets.</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">70</font></font></td>


















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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><br></p>
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<tr style="height: 52px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 52px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























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<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























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<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























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<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The impairment of the assets was attributed entirely to the goodwill and the remainder was attributed to other Hidrovias assets.</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="border-left: none; border-right: none;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px;" width="100%">

<tr style="height: 11.35pt; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 90%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Allocation of impairment </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">108,667</font> </font></p>






















</td>






















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<tr style="height: 11.35pt; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Deferred income and social contribution taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">36,947</font>) </font></p>






















</td>






















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<tr style="height: 11.35pt; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">Net impairment</font> <font style="font-size: 8pt;"><sup><font style="font-weight: bold; vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">1</font>)</font></sup></font></font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">71,720</font> </font></p>






















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<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">1</font>)</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">&#160;</font></sup></font></td>
<td style="width: 97%; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considering the acquisition of control of Hidrovias in May 2025, according to Note<font>&#160;</font></font><font style="border-left: none; border-right: none;">27</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.b, the net impairment for the period recorded in the Company is R$<font>&#160;</font></font><font style="border-left: none; border-right: none;">48,056</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>





















</tr>











































</table>
<p style="font-size: 8pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. The main classes of assets and liabilities classified as held for sale as of September 30, 2025 are shown below:</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="border-left: none; border-right: none; line-height: 1.1;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 356px; width: 100%;" width="100%">

<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> ASSETS </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit; font-weight: bold;"> Cabotagem September/2025 </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 10px;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; text-align: center; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Eliminations </font>



</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 10px;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Impact of impairment </font></p>






















</td>
<td style="vertical-align: top; margin: 0px; text-indent: 0px; height: 10px; padding-left: 0px; padding-right: 0px;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Cessation of depreciation </font></p>






















</td>
<td style="vertical-align: top; margin: 0px; text-indent: 0px; height: 10px; padding-left: 0px; padding-right: 0px;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Balance as of September 30, 2025 </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 46%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cash and cash equivalents </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">15,860</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">15,860</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Financial investments </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">879</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">879</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade receivables </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">57,376</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">57,376</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Inventories </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">18,903</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">18,903</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Recoverable taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">5,186</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">5,186</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Recoverable income and social contribution taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">26,106</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">26,106</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Credits with related parties </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">61</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">61</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">28,280</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">28,280</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total current assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">152,651</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">61</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">152,590</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Financial investments </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">18,716</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">18,716</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Credits with related parties </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">140</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">140</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Escrow deposits </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,037</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,037</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Deferred income tax and social contribution </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">51,458</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">36,947</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">11,732</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">76,673</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">8,909</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">8,909</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Property, plant and equipment </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">348,308</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">27,684</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">375,992</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Intangible assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">156,013</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">108,667</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">6,823</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">54,169</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total non-current assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">605,581</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">140</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">71,720</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,775</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">556,496</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total assets </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">758,232</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">201</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">71,720</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,775</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">709,086</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>













































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

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


















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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>


















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</div>
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="border-left: none; border-right: none;"><br></div>
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; border-bottom: 1.5pt solid #000080; font-family: 'times new roman'; font-size: 10pt; height: 86px;">

<tr style="height: 52px;">
<td style="width: 50%; padding: 0px; vertical-align: bottom; height: 52px;" valign="bottom">
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























</td>
<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























</tr>
<tr style="height: 17px;">
<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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<div style="border-left: none; border-right: none;"><br>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 333px; width: 100%;" width="100%">

<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 46%;">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> LIABILITIES AND EQUITY </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 10px; width: 10%; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cabotagem September/2025 </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Eliminations </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Impact of impairment </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Cessation of depreciation </font></p>






















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<td style="vertical-align: top; margin: 0px; text-indent: 0px; height: 10px; width: 1%;">
<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Balance as of September 30, 2025 </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Trade payables </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">15,535</font> </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">15,535</font> </font></p>






















</td>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Loans, financing and debentures </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">63,044</font> </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">63,044</font> </font></p>






















</td>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Social and labor obligations </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,671</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,671</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Taxes payable </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">14,566</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">14,566</font> </font></p>






















</td>






















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<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Income and social contribution taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,519</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,519</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Payables from related parties </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">891</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">891</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Legal claims </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">63</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">63</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total current liabilities </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">103,289</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">891</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">102,398</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Loans, financing and debentures </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">339,960</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">339,960</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total non-current liabilities </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">339,960</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">339,960</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Share capital </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">265,557</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">265,557</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Retained earnings (loss) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">145,562</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">96,617</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">71,720</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,775</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Accumulated other comprehensive income </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">96,136</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">96,136</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total equity </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">314,983</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">266,038</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">71,720</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,775</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#8208; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total liabilities and equity </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">758,232</font> </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">266,929</font>) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">71,720</font>) </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">22,775</font> </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">442,358</font> </font></p>






















</td>






















 </tr>











































 </table>






















</div>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold; line-height: inherit;">c</font><font style="font-style: italic; font-weight: bold; line-height: inherit;">.</font><font style="font-style: italic; font-weight: bold; line-height: inherit;"> The results for the period and cash flows from discontinued operations as of September 30, 2025 are shown below:</font></font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<div style="border-left: none; border-right: none;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 371px; width: 100%;" width="100%">

<tr style="height: 42px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 90%; height: 42px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="margin: 0px; text-indent: 0px; width: 10%; height: 42px; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="bottom">
<p style="text-align: center; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit; font-size: 8pt;">Final balance as of 09/30/2025<sup>(1)</sup></font></font></p>






















 </td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Net revenue from sales and services </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">87,254</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Cost of services sold </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">56,879</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Gross profit </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">30,375</font> </font></p>






















</td>






















 </tr>
<tr style="height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Operating income (expenses) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> General and administrative </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">3,212</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Other operating income (expenses) </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">6,468</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Impairment losses </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">72,812</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Operating income (loss) before financial result and taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">39,181</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Financial income </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">5,020</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Financial expenses </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">4,766</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Financial result, net </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">254</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Operating income (loss) before income and social contribution taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">38,927</font>) </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Income and social contribution taxes </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Current </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">3,492</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Deferred </font></p>






















</td>
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">11,945</font> </font></p>






















</td>






















 </tr>
<tr style="height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Profit (loss) for the period </font></p>






















</td>
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<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> (<font style="border-left: none; border-right: none;">23,490</font>) </font></p>






















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<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br></font></p>
<p><font style="color: #000000; font-family: 'times new roman'; font-size: 13pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>






























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<td style="width: 50%; vertical-align: top; height: 86px;" rowspan="3" valign="top"><font style="font-size: 10pt;"><img src="ccb7354aaaa8176c492b.jpg" style="float: right;;height:62;width:140;" alt="Graphics"></font></td>






























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<td style="width: 50%; height: 17px;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Notes to the interim financial information</font></td>






























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<td style="width: 50%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><font style="color: #000000; font-family: 'times new roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the periods ended September 30, 2025</font></td>






























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<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> &#160; </font></p>






















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<p style="margin: 0px; text-align: center; text-indent: 0px; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; line-height: inherit; font-size: 8pt;">Final balance as of 09/30/2025<sup>(1)</sup></font></font></p>






















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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Net cash provided by operating activities </font></p>






















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<td style="padding-left: 3pt; padding-right: 3pt; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> <font style="border-left: none; border-right: none;">26,833</font> </font></p>






















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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Net cash used in investing activities </font></p>






















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<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">21,728</font>) </font></p>






















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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> Net cash used in financing activities </font></p>






















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<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (<font style="border-left: none; border-right: none;">558</font>) </font></p>






















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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> Increase (Decrease) in cash and cash equivalents </font></p>






















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<p style="margin: 0px; text-align: right; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> <font style="border-left: none; border-right: none;">4,547</font> </font></p>






















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<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 10px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">

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<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="vertical-align: super; line-height: inherit;">(<font style="border-left: none; border-right: none;">1</font>)</font></sup><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">&#160;</font></font></td>
<td style="width: 97%; height: 10px; vertical-align: top; text-align: justify;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considers the balances since the acquisition of control in May 2025 according to Note&#160;</font><font style="font-size: 10pt;"><font style="border-left: none; border-right: none;">27</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.b.</font></font></td>





















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<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><br></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">For the parent company, in the statement of income for the period ended September 30, 2025, the share of profit (loss) of&#160; Cabotage, net of transactions with related parties, were reclassified as Discontinued Operation in the amount of R$ <font style="border-left: none; border-right: none;">12,929</font>.</font></p>
<p style="font-size: 11pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">d. Covenants</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As a result of its loans from BNDES, HB Cabotagem has the following financial covenants calculated from the Financial Statements of the subsidiary: (i) maintain the capitalization ratio greater than or equal to <font style="border-left: none; border-right: none;">25</font>%. The capitalization ratio is obtained from adjusted equity to total assets. Adjusted equity is the equity excluding foreign exchange losses and gains; and (ii) maintain the debt service coverage ratio (&#8220;DSCR&#8221;) equal to or greater than <font style="border-left: none; border-right: none;">1.3</font>x. The DSCR is calculated based on ratio of EBITDA and variation in working capital (excluding cash and debt) to debt service and is measured annually. </font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The covenants of subsidiary HB Cabotagem are determined at the end of the year and on December 31, 2024 were fully achieved.</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div style="background-color: #002060; margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSD_14_6102025122628803"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">29. Events after the reporting period</font> </font></a></div>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">a. Completion of sale of the cabotage operation by Hidrovias</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">On February 27, 2025, Hidrovias entered into an agreement for the sale of all shares in HB &#8211; Cabotagem (&#8220;Cabotagem&#8221;) to Companhia de Navega&#231;&#227;o Norsul (&#8220;Norsul&#8221;).&#160; On November 1, 2025, after fulfilling the conditions precedent set forth in the sale agreement, the transaction was completed.</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b. Agreement to acquire an interest in Virtu GNL</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="line-height: inherit;">On October 24, 2025, the Company entered into an agreement to acquire a <font style="border-left: none; border-right: none;">37.5</font>% interest in Virtu GNL Participa&#231;&#245;es S.A. (&#8220;Virtu&#8221;), a company operating in <font style="border-left: none; border-right: none;">two</font> business segments:&#160; (i) logistics of liquefied natural gas (LNG) for own use, and (ii) LNG-powered logistics services.&#160; The amount to be disbursed will be R$ <font style="border-left: none; border-right: none;">102,500</font>.</font><font style="line-height: inherit;">&#160;</font></font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The completion of this transaction is subject to regulatory approvals and fulfillment of conditions precedent that are usual for this type of operation.</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif;"><font lang="EN-US" style="font-size: 10.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;">&#160;</font><font lang="EN-US" style="font-size: 8.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;"></font></p>
<p style="break-after: avoid; margin: 2pt 0cm 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><font lang="EN-US" style="font-family: Aptos, sans-serif; margin: 2pt 0cm 0cm; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold; break-after: avoid; break-inside: avoid; mso-bidi-font-style: normal; mso-bidi-font-weight: normal;">c.
Foreign loan obtained by Cia Ultragaz</font></font></i></b></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif;"><font lang="EN-US" style="font-size: 10.0pt; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-no-proof: no;">&#160;</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif;"><font lang="EN-US" style="font-size: 10pt; font-family: Aptos, sans-serif; margin: 0cm; text-align: justify; line-height: 1.2; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On November
10, 2025, the subsidiary raised foreign financing (without financial covenants)
in the amount of USD 111,859 (equivalent to R$ 600,000 on the transaction
date), with financial charges of 4.11% p.a. and maturing on November 9, 2028.
The subsidiary entered into hedging instruments against foreign exchange rate
variations on American dollar, changing financial charges to 104.5% of the DI
rate.</font></font></p>













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<div><font><font style="font-size: 18pt; font-weight: bold;"></font></font><font><font style="font-size: 18pt; font-weight: bold;">3Q25 Earnings Release</font></font></div>









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<p style="margin: 0pt; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">S&#227;o Paulo, </font><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">November 12, 2025</font> <font style="color: #05289b; font-size: 10pt; line-height: inherit;">&#8211; </font><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>Ultrapar </font><font>Participa&#231;&#245;es</font><font> S.A</font><font>.</font> </font><font style="font-size: 10pt; line-height: inherit;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none; margin: 0pt; text-align: justify; line-height: 1.2;" href="#TOC" name="BDnd1_121020252264092"><font style="font-size: 10pt; font-family: 'times new roman', times; ;text-decoration: none; ;color: black;">(B</font>3: UGPA3 / NYSE: UGP</a>, &#8220;Company&#8221; or &#8220;Ultrapar&#8221;), operating in energy, mobility, and logistics infrastructure through Ultragaz, Ipiranga, Ultracargo and Hidrovias do Brasil (B3: HBSA3), today announces its results for the </font><font style="font-size: 10pt; line-height: inherit;">third</font><font style="font-size: 10pt; line-height: inherit;"> quarter of 2025.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenue</font></p>














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<p style="margin: 0pt; text-align: center; color: #ffffff; font-family: 'times new roman', times;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt; margin: 0pt; text-align: center;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font>&#160;<font style="font-size: 8pt;"><sup>1</sup></font></font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;"><font style="font-size: 10pt;">Recurring Adjusted EBITDA <font style="font-size: 8pt;"><sup>1</sup></font></font></font></font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ 3</font><font style="font-weight: bold; line-height: inherit;">7</font><font style="font-weight: bold; line-height: inherit;">.</font><font style="font-weight: bold; line-height: inherit;">1</font></font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">billion</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ </font><font style="font-weight: bold; line-height: inherit;">1</font><font style="font-weight: bold; line-height: inherit;">.</font><font style="font-weight: bold; line-height: inherit;">9</font></font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">billion</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ 1</font><font style="font-weight: bold; line-height: inherit;">.</font><font style="font-weight: bold; line-height: inherit;">8</font></font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">billion</font></p>














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<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash generation from operations</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Investments</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ </font><font style="font-weight: bold; line-height: inherit;">0</font><font style="font-weight: bold; line-height: inherit;">.</font><font style="font-weight: bold; line-height: inherit;">8</font></font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">billion</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ </font><font style="font-weight: bold; line-height: inherit;">2</font><font style="font-weight: bold; line-height: inherit;">.</font><font style="font-weight: bold; line-height: inherit;">1</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-weight: bold; line-height: inherit;">R$ </font><font style="font-weight: bold; line-height: inherit;">756</font></font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">million</font></p>














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<p style="font-size: 10pt; line-height: 1.2; margin: 6pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table above considers the sum of the balances of continuing and discontinued operations.</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">&#185; </font><font style="line-height: inherit;">Accounting adjustments and non-recurring items described in the EBITDA calculation table &#8211; page 2</font></font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 6pt 0pt 0pt; text-align: justify;"><font style="color: #3cbfbe; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Highlights</font></p>
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<li style="font-size: 10pt; line-height: 108%; margin: 6pt 0pt 0pt 27.6pt; padding-left: 8.4pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">Continuity of good operating results </font><font style="font-size: 10pt; line-height: inherit;">of Ultrapar</font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">.</font></li>














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<td style="width: 90%; height: 16px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size-adjust: none; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: inherit;"><font>&#160;</font></font><font style="font-weight: bold;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">Strong operating cash generation across</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">&#160;</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">all busine</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">sses</font></font><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">, totaling R$ 2.1 billion at Ultrapar</font></td>














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<td style="height: 16px; vertical-align: top;" 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; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold; line-height: inherit;">Hidrovias&#8217; record results</font><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: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">.</font></td>














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<li style="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-size: 10pt; font-weight: bold; line-height: inherit;">E</font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">xtraordinary tax credits of R$ 238 million at Ipiranga</font><font style="font-size: 10pt; line-height: inherit;">, related to the remaining portion of</font><font style="font-size: 10pt; line-height: inherit;"> historical</font><font style="font-size: 10pt; line-height: inherit;"> ICMS tax credits</font><font style="font-size: 10pt; line-height: inherit;"> included</font><font style="font-size: 10pt; line-height: inherit;"> in the PIS/COFINS calculation base.</font></li>














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<li style="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-size: 10pt; font-weight: bold; line-height: inherit;">Progress in </font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">combating</font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;"> irregularities in the fuel sector</font><font style="font-size: 10pt; line-height: inherit;">, highlighted by the </font><font style="font-size: 10pt; font-style: italic; line-height: inherit;">Carbono</font> <font style="font-size: 10pt; font-style: italic; line-height: inherit;">Oculto</font> <font style="font-size: 10pt; line-height: inherit;">Operation (August 2025), reinforcing the need for stricter legislation to </font><font style="font-size: 10pt; line-height: inherit;">comba</font><font style="font-size: 10pt; line-height: inherit;">t</font><font style="font-size: 10pt; line-height: inherit;"> crime and illegal practices in the sector.</font></li>














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<li style="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-size: 10pt; font-weight: bold; line-height: inherit;">Financial strength</font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">,</font><font style="font-size: 10pt; line-height: inherit;"> with </font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">a </font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">rapid reduction in leverage</font><font style="font-size: 10pt; line-height: inherit;"> after the consolidation of Hidrovias in May 2025, which decreased from 1.9x in 2Q25 to 1.7x in 3Q25, even after </font><font style="font-size: 10pt; line-height: inherit;">the payment of</font><font style="font-size: 10pt; line-height: inherit;"> dividends of R$ 326 million in August.</font></li>




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<li style="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-size: 10pt; font-weight: bold; line-height: inherit;">Advances</font><font style="font-size: 10pt; line-height: inherit;"> in the&#160;</font><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">growth and strategic positioning</font><font style="font-size: 10pt; line-height: inherit;"> agenda:</font></li>














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<p><font style="font-size: 10pt;"><font style="font-weight: bold;">Completion of the expansion of the Santos terminal</font><font style="text-indent: -18pt; line-height: inherit;"><font style="font-weight: bold;">,</font>&#160;adding 34,000 m&#179; of&#160;</font><font style="text-indent: -18pt; line-height: inherit;">storage&#160;</font><font style="text-indent: -18pt; line-height: inherit;">capacity at Ultracargo in October 2025.</font></font></p>














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<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 10pt;"><font style="font-weight: bold;"><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font style="text-decoration: none; color: black;">Closing of the sale of coastal navigation operation </font></font></font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</font><font style="font-weight: bold;"><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">by&#160;</font>Hidrovias</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;on November 1st for R$ 715 million, enabling focus on more synergistic and complementary businesses, while strengthening its financial position.</font></font></td>














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<td style="height: 17px; vertical-align: top;" valign="top"><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; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">Signing agreement to</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold; line-height: inherit;"> acquire</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; font-weight: bold; line-height: inherit;">&#160;a 37.5%&#160;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; font-weight: bold; line-height: inherit;">stake</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; font-weight: bold; line-height: inherit;">&#160;in&#160;Virtu&#160;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; font-weight: bold; line-height: inherit;">Participa&#231;&#245;es</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; font-weight: bold; line-height: inherit;">&#160;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">for R$ 102.5 million, reinforcing the investment strategy in new sectors where&#160;Ultrapar&#160;can contribute to value creation, with high growth and profitability potential.</font></font></td>














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<td style="height: 17px; vertical-align: top;" valign="top"><br></td>
<td style="height: 17px; vertical-align: top;" valign="top">-</td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 10pt;"><font style="font-weight: bold;"><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">A</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">pproval&#160;by CADE<font style="line-height: inherit;">&#160;</font></font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">for the LPG</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;"><font style="line-height: inherit;">&#160;</font>port</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;"><font style="line-height: inherit;">&#160;</font>terminal in<font style="line-height: inherit;">&#160;</font></font></font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;"><font style="font-weight: bold;">Pec&#233;m</font>&#160;</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">(</font><font style="font-size: 10pt;"><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">CE</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">)</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">,</font></font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;"><font style="line-height: inherit;">&#160;</font>in partnership with<font style="line-height: inherit;">&#160;</font></font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">Supergasbr&#225;s</font><font style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-indent: -18pt; line-height: inherit;">.</font></font></td>














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<li style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt; font-weight: bold; line-height: inherit;">Ultra Day 2025 </font><font style="font-size: 10pt; line-height: inherit;">held&#160;</font><font style="font-size: 10pt; line-height: inherit;">for the first time at </font><font style="font-size: 10pt; line-height: inherit;">Ultrapar&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> headquarters</font><font style="font-size: 10pt; line-height: inherit;">,</font><font style="font-size: 10pt; line-height: inherit;"> an</font> <font style="font-size: 10pt; line-height: inherit;">annual event with investors and analysts to present the Company&#8217;s strategy and its businesses. The presentation is available on the investor relations website, at</font><font style="font-size: 10pt; line-height: inherit;">:</font> <font style="color: #0000ff; font-size: 10pt; text-decoration: underline; line-height: inherit;">Ultra Day presentation</font><font style="font-size: 11pt; line-height: inherit;">.</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">74</font></font></td>









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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>









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<p style="font-size: 12pt; line-height: 1.1; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 12pt;"><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;">Considerations on the financial and operational information</font></font></p>
<p style="font-size: 10pt; line-height: 1.1; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">The financial information presented on this document were extracted from the individual and consolidated interim financial information ("Quarterly Information") for</font><font style="line-height: inherit;"> the three months period ended on September 30, 202</font><font style="line-height: inherit;">5</font><font style="line-height: inherit;">, and prepared in accordance with the pronouncement CPC 21 (R1) - Interim Financial Reporting and the International Accounting Standard IAS 34 issued by t</font><font style="line-height: inherit;">he </font><font style="line-height: inherit;">IASB, and presented in accordance with the applicable rules for Quarterly Information, issued by the Brazilian Securities and Exchange Commission (&#8220;CVM&#8221;).</font></font></p>
<p style="font-size: 10pt; line-height: 1.1; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Information on Ipiranga, Ultragaz, Ultracargo and Hidrovias is presented without the elimination of intersegment transactions. Therefore, the sum of such information may not correspond to </font><font style="line-height: inherit;">Ultrapar's</font><font style="line-height: inherit;"> consolidated information. Additionally, the financial and operational information is subject to rounding and, consequently, the total amounts presented in the tables and charts may differ from the direct numerical sum of the amounts that preceded them.</font></font></p>
<p style="font-size: 10pt; line-height: 1.1; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Information denominated EBIT (Earnings Before Interest and Taxes on Income and Social Contribution on Net Income), EBITDA (Earnings Before Interests, Taxes on Income and Social Contribution on Net Income, Depreciation and Amortization); Adjusted EBITDA and Recurring Adjusted EBITDA are presented in accordance with Resolution 156, issued by the CVM on June 23, 2022.</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Adjusted EBITDA considers adjustments from usual business transactions that impact the results but do not have potential cash generation, such as the amortization of contractual assets with customers &#8211; exclusive rights, amortization the fair value adjustments of associates, and the effect of mark-to-market of energy future contracts. Regarding Recurring Adjusted EBITDA, the Company excludes exceptional or non-recurring items, providing a more accurate and consistent view of its operational performance, avoiding distortions caused by exceptional events, whether positive or negative. The calculation of EBITDA from net income is detailed in the table below.</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 5pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">In May 2025, the Company became the controlling shareholder of Hidrovias, as per the Material Fact disclosed to the market, consolidating its results as of that date. The effect of Hidrovias&#8217; results on </font><font style="line-height: inherit;">Ultrapar&#8217;s</font><font style="line-height: inherit;"> EBITDA in the second quarter considers 3 months of Hidrovias&#8217; results to eliminate the lag that was impacting the share of results of Ultrapar, as well as 2 months of Hidrovias&#8217; EBITDA for May and June. It is worth noting that Hidrovias announced in February 2025 the sale of the Coastal Navigation operation and the balances are presented as a discontinued operation in the financial statements. In this report we present the financial information related to Ultrapar on a consolidated basis, considering the sum of continuing and discontinued operations, unless otherwise indicated.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 6pt 0pt 0pt; text-align: justify; text-indent: 0pt;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
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<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-top-width: 1px; border-top-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-left-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">ULTRAPAR</font></p>














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<td colspan="3" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Quarter</font></p>














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<td colspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Year-to-date</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #ffffff; line-height: inherit;"> 3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25 </font></font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #ffffff; line-height: inherit;">3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">24 </font></font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #ffffff; line-height: inherit;"> 2</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25 </font></font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9M25</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9M24</font></p>














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<td style="padding: 0px 7px; vertical-align: middle; height: 10px; width: 50%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Net Income</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> 772 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> 698 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,151 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,286 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,645 </font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(+) Income and social contribution taxes</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 255 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 308 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">341 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 844 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 710 </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(+) Net financial (income) expenses</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 401 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 108 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">31 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 612 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 597 </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(+) Depreciation and amortization<sup>1</sup></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 449 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 275 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">388 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 1,137 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 874 </font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">878 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">389 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">910 </font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">879 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">826 </font></font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Accounting adjustment</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt;"><font style="font-family: 'times new roman', times; line-height: inherit;">(+) Amortization of contractual assets with customers &#8211; exclusive&#160;&#160;</font><font style="font-family: 'times new roman', times; line-height: inherit;">rights&#160;<font lang="EN-US" style="font-size: 8.0pt; line-height: 107%; font-family: 'Aptos',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Arial; mso-font-kerning: 0pt; mso-ligatures: none; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">and </font><font lang="EN-US" style="font-size: 8pt; line-height: 107%; font-family: Aptos, sans-serif; color: #000000;">amortization
of fair value adjustments on associates acquisition</font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 121 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 148 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">113 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 340 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 405 </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(+) MTM of energy futures contracts</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (58)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">42 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (25)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(+/-) Hedge accounting</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 6 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 10 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">946 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">537 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">070 </font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">205 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">231 </font></font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ipiranga</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">085 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">967 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">199 </font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">3</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">115 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">604 </font></font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ultragaz </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">463 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">448 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 442 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">298 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">263 </font></font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ultracargo</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">134 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">168 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 141 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">441 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">498 </font></font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Hidrovias</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">332 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">9 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 323 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">516 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">9 </font></font></p>














      </td>














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<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Holding and other companies</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160; Holding</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (51)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (52)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (56)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (161)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (145)</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160; Other companies</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (17)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (4)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (12)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (38)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (14)</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Extraordinary expenses/provisions from divestments</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">32 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 32 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 16 </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Non-recurring items that affected EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(-) Results from disposal of assets (Ipiranga)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (7)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (31)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (34)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (47)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (104)</font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(-) Credits and provisions (Ipiranga)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (185)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(487)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (673)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(-) Earn-out Stella (Ultragaz)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">- </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (17)</font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(-) Extraordinary expenses/provisions from divestments</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (32)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (32)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (16)</font></p>














      </td>














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<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;">(-) Assets write-off and</font> <font style="line-height: inherit;">Coastal Navigation impairment</font> <font style="line-height: inherit;">(Hidrovias)</font></font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 29 </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(48) </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (19)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> - </font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Recurring adjusted EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">783 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">506 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">468 </font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">434 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">093 </font></font></p>














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<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ipiranga</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">892 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">936 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 678 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">396 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">499 </font></font></p>














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<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ultragaz</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">463 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">448 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 442 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">298 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">246 </font></font></p>














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<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Ultracargo</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">134 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">168 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 141 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">441 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">498 </font></font></p>














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<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Hidrovias</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">361 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">9 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> 276 </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">498 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"> <font style="line-height: inherit;">9 </font></font></p>














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<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Holding and other companies</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>














      </td>














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<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 30pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160; Holding</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (51)</font></p>














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<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (52)</font></p>














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<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (56)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (161)</font></p>














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<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (145)</font></p>














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<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 30pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160; Other companies</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (17)</font></p>














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<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (4)</font></p>














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<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (12)</font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (38)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> (14)</font></p>














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<p style="margin: 5pt 0pt; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"><font style="font-size: 8pt;"><sup>1&#160;</sup>Does not include amortization of contractual assets with customers &#8211; exclusive rights</font></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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









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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









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<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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</table>
<p style="margin: 0pt; line-height: 1.2;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
<table cellspacing="0" cellpadding="0" style="height: 236px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 18px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 28px; border-image: initial; border-top: 1pt solid #00458c; border-left: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ULTRAPAR</font></font></p>














      </td>
<td colspan="5" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














      </td>
<td colspan="4" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Year-to-date</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3Q25 </font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q24 </font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2Q25 </font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 3Q24</font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 2Q25</font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25</font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M24</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25 x 9M24</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; width: 36%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenue</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">37</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">088 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">35</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">358 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">34</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">088 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">104</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">505 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">98</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">098 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">C</font><font style="line-height: inherit;">ost of products sold</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">(34</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">588)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">(33</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">076)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;"> (31</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">933)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(97</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">708)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;"> (9</font><font style="color: #262626; line-height: inherit;">1</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">646</font><font style="color: #262626; line-height: inherit;">)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">7</font><font style="color: #262626; line-height: inherit;">%</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">501 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">2</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">282 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">2</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">155 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">6</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">797 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">6</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">451 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling, general and administrative</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(1</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">175)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">092)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">189)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-1%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(3</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">484)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(3</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">259)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Results from disposal of assets</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(16)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">31 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(28)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-44%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(39)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">105 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">127 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(111)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">453 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-72%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">494 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(337)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">946 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">5</font><font style="color: #00458c; line-height: inherit;">37</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">2</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">070 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">27%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-6%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">205 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">231 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA <font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">783 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">506</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">468 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">434 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">093 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Depreciation and amortization <font style="font-size: 8pt;"><sup>2</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(570)</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(423)</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(501)</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">35%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(</font><font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">477</font><font style="line-height: inherit;">)</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(</font><font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">279</font><font style="line-height: inherit;">)</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">15</font><font style="color: #262626; line-height: inherit;">%</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial Result</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(401)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(108)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(31)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(612)</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(597)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">772 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">698 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">151 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-33%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">286 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">645 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">756 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">519 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">544 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46%</font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">716 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">437 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flow from operating activities</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">29</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">780 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">939 </font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">17</font><font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">12</font><font style="color: #00458c; line-height: inherit;">7</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">0</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">71</font> </font></p>














      </td>
<td style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">505 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 5px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">10</font><font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>














     </tr>





























   </table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><sup style="text-align: start;">1&#160;&#160;</sup><font style="font-size: 8pt; text-align: start;">Non-recurring items described in the EBITDA calculation table &#8211; page 2</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><sup>2</sup>&#160; Includes amortization of contractual assets with customers &#8211; exclusive rights and amortization of fair value adjustments on associates acquisition</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenues</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Total of R$ 37,088 million (+5% vs 3Q24 and +9% vs 2Q25), driven by higher revenues from Ipiranga and Ultragaz and the consolidation of </font><font style="font-size: 10pt; line-height: inherit;">Hidrovia&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> result from May 2025.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Recurring adjusted EBITDA &#8211; </font><font style="font-size: 10pt; line-height: inherit;">Total of R$ 1,783 million (+18% vs 3Q24), highlighting the consolidation of Hidrovias&#8217; result and </font><font style="font-size: 10pt; line-height: inherit;">Ultragaz&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> better result, partially offset by </font><font style="font-size: 10pt; line-height: inherit;">Ipiranga&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> and </font><font style="font-size: 10pt; line-height: inherit;">Ultracargo&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> lower EBITDA. Compared to 2Q25, </font><font style="font-size: 10pt; line-height: inherit;">r</font><font style="font-size: 10pt; line-height: inherit;">ecurring adjusted EBITDA increased 21%, with better results </font><font style="font-size: 10pt; line-height: inherit;">from</font><font style="font-size: 10pt; line-height: inherit;"> Ipiranga, Ultragaz, and Hidrovias.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Results from the Holding and other companies</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Negative result of R$ 68 million, driven by (</font><font style="font-size: 10pt; line-height: inherit;">i</font><font style="font-size: 10pt; line-height: inherit;">) R$ 51 million from the Holding expenses, which remained stable compared to 3Q24 and (ii) a negative result of R$ 17 million from other companies, mainly due to the worst performance of </font><font style="font-size: 10pt; line-height: inherit;">Refinaria</font> <font style="font-size: 10pt; line-height: inherit;">Riograndense</font><font style="font-size: 10pt; line-height: inherit;">.</font><font style="font-size: 10pt; line-height: inherit;">&#160; </font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Depreciation and amortization</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Total of R$ 570 million (+35% vs 3Q24 and +14% vs 2Q25), mainly reflecting the effects of the consolidation of Hidrovias.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Financial result</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Negative result of R$ 401 million (-R$ 293 million vs 3Q24), resulting from (</font><font style="font-size: 10pt; line-height: inherit;">i</font><font style="font-size: 10pt; line-height: inherit;">) higher debt due to the consolidation of Hidrovias and the increase in CDI, (ii) a negative one-off mark-to-market result of R$ 63 million in this quarter, and (iii) partially offset by the positive effect of R$ 134 million from the monetary adjustment of extraordinary tax credits during the quarter.</font><font style="font-size: 10pt; line-height: inherit;"> Compared to 2Q25, there was a worsening of R$ 370 million, due to the revenue from monetary adjustment of extemporaneous credits, which were R$ 210 million lower, and the aforementioned one-off mark-to-market result.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income &#8211;</font> <font style="font-size: 10pt; line-height: inherit;">Total of R$ </font><font style="font-size: 10pt; line-height: inherit;">772</font><font style="font-size: 10pt; line-height: inherit;"> million (+</font><font style="font-size: 10pt; line-height: inherit;">11</font><font style="font-size: 10pt; line-height: inherit;">% vs 3Q24), reflecting the higher operating result and the recognition of extemporaneous tax credits, which were partially offset by higher financial expenses and higher depreciation and amortization. Compared to 2Q25, there was a 33% decrease, due to the lower volume of recognized extemporaneous tax credits and the increase in financial expenses.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">76</font></font></td>









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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
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<p>&#160;</p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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</table>
<p style="line-height: 1.2; margin: 10pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flow from operating activities</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Operating cash generation of R$ 2,129 million</font><font style="font-size: 10pt; line-height: inherit;">, c</font><font style="font-size: 10pt; line-height: inherit;">ompared to R$ 780 million in 3Q24, </font><font style="font-size: 10pt; line-height: inherit;">due to </font><font style="font-size: 10pt; line-height: inherit;">better operating results, </font><font style="font-size: 10pt; line-height: inherit;">the </font><font style="font-size: 10pt; line-height: inherit;">consolidation of Hidrovias, and lower working capital investment, especially at Ipiranga and Ultragaz</font><font style="font-size: 10pt; line-height: inherit;">, </font><font style="font-size: 10pt; line-height: inherit;">even with the R$ 258 million investments for the settlement of draft discount in the quarter.</font></font></p>
<p style="line-height: 1.2; margin: 10pt 0pt; text-align: justify; text-indent: 0pt;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
<table cellspacing="0" cellpadding="0" style="height: 319px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; float: left;" width="100%">

<tr style="height: 16px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 26px; border-top-width: 1px; border-top-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-left-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">IPIRANGA</font></p>














      </td>
<td colspan="11" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














      </td>
<td style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;" colspan="6">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Year-to-date</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3Q25 </font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q24 </font></p>














      </td>
<td colspan="3" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2Q25 </font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 3Q24</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 2Q25</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M24</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25 x 9M24</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; width: 36%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total volume (&#8216;000 m&#179;)</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">6</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">170 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">6</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">123 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">5</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">733 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">17</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">480 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">17</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">556 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Diesel</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">3</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">284 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">3</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">283 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">925 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">8</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">984 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">9</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">049 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-1%</font></p>














      </td>














     </tr>
<tr style="height: 17px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Otto</font><font style="color: #262626; line-height: inherit;"> cycle</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">770 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">735 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">2</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">700 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">8</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">169 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">8</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">207 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0%</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">ther</font><font style="color: #262626; line-height: inherit;">s<font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">116 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">105 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">107 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">8%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">327 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">300 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">32</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">975 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">32</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">115 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">30</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">296 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">93</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">505 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">89</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">239 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost of products sold and service provided</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(31</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">595)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(30</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">610)</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(29</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">048)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(89</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">449)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">(84</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">942)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">380 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">505 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">248 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">056 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">298 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-6%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">Gross margin</font><font style="font-style: italic; line-height: inherit;"> (R$/m&#179;)</font> </font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">224 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">246 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">218 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-9%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">232 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">245 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling, general and administrative</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(691)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(752)</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(773)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(2</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">226)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(2</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">290)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-3%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Results from disposal of assets</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">7 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">31 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">34 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-76%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-78%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">47 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">104 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-55%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">115 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(124)</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">396 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-71%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">406 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(398)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-202%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">085 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">967 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">199 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-10%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">115 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">2</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">604 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Adjusted EBITDA margin (R$/m&#179;)</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">176 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">158 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">209 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">11%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-16%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">178 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">148 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">20%</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="font-size: 10pt;">Non-recurring </font><font style="font-size: 8pt;"><sup>2</sup></font></font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(193)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(31)</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(521)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">515</font><font style="color: #262626; line-height: inherit;">%</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">-63</font><font style="color: #262626; line-height: inherit;">%</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(719)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(104)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">590</font><font style="color: #262626; line-height: inherit;">%</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">892 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">936 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">678 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">396 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">2</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">499 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-4%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Recurring Adjusted EBITDA margin (R$/m&#179;)</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">145 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">153 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">118 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-5%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">22%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">137 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">142 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-4%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="font-size: 10pt;">Depreciation and amortization </font><font style="font-size: 8pt;"><sup>3</sup></font></font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">283 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">309 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">299 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">848 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">896 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Recurring Adjusted LTM EBITDA</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">240 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">660 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">284 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-1%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">240 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">660 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding: 0px 7px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Recurring Adjusted LTM EBITDA margin (R$/m&#179;)</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">138 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">155 </font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">140 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-11%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-2%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">138 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">155 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-11%</font></p>














      </td>














     </tr>





























   </table>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><br></p>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 3pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>1</sup> Fuel oils,&#160;</font><font style="line-height: inherit;">arla</font><font style="line-height: inherit;">&#160;32, kerosene, lubricants and greases</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>2</sup> </font><font style="line-height: inherit;">Non-recurring items described in the EBITDA calculation table &#8211; page&#160;</font><font style="line-height: inherit;">2</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>3</sup>&#160;</font><font style="line-height: inherit;">Includes amortization with contractual assets with customers &#8211; exclusive rights</font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><br></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Operational performance &#8211; </font><font style="line-height: inherit;">Volume increased by 1% compared to 3Q24, with a 1% increase in the Otto cycle (mainly in gasoline). Compared to 2Q25, the increase was 8%, resulting from growth in diesel volume, due to the seasonality and the effects of closed import parity</font><font style="line-height: inherit;"> (i</font><font style="line-height: inherit;">nternational prices under Petrobras prices</font><font style="line-height: inherit;">)</font><font style="line-height: inherit;"> throughout the quarter. These factors were partially offset by the negative impacts also caused by irregularities in the fuel sector. Sales volume growth accelerated in September, a result of the beginning of market recovery after&#160;</font><font style="font-style: italic; line-height: inherit;">Carbono</font> <font style="font-style: italic; line-height: inherit;">Oculto</font><font style="line-height: inherit;"> Operation, which is combating irregular companies in the sector.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"><br></font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Net revenues &#8211; </font><font style="line-height: inherit;">Total of R$ </font><font style="line-height: inherit;">32,975 </font><font style="line-height: inherit;">million in 3Q25 (+3% vs 3Q24 and +9% vs 2Q25), mainly due to the higher sales volume. </font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Cost of goods sold</font><font style="color: #00458c; font-weight: bold; line-height: inherit;"> &#8211;</font> <font style="line-height: inherit;">Total of R$ </font><font style="line-height: inherit;">31,595 </font><font style="line-height: inherit;">million (+3% vs 3Q24 and +9% vs 2Q25), in line with the effect observed in net revenue.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">77</font></font></td>









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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 8pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Selling, general and administrative expenses &#8211;</font> <font style="line-height: inherit;">Total of R$ 691 million in 3Q25 (-8% vs 3Q24), with lower allowance for expected credit losses and lower marketing and personnel expenses (reduced headcount). Compared to 2Q25, expenses decreased by 11%, mainly due to lower level of contingencies.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Result from disposal of assets &#8211; </font><font style="line-height: inherit;">Total of R$ 7 million in 3Q25 (-R$ 24 million vs 3Q24 and -R$ 2</font><font style="line-height: inherit;">6</font><font style="line-height: inherit;"> million vs 2Q25), due to lower sale of real estate assets in the period.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Other operating results</font><font style="line-height: inherit;"> &#8211; Total of R$ 115 million (improvement of R$ 239 million vs 3Q24), due to the recognition of R$ 185 million in extraordinary tax credits and lower expenses with decarbonization credits, given the lower price level. Compared to 2Q25, there was a decrease of R$ 28</font><font style="line-height: inherit;">0</font><font style="line-height: inherit;"> million, mainly due to </font><font style="line-height: inherit;">the</font><font style="line-height: inherit;"> lower level of </font><font style="line-height: inherit;">extraordinary </font><font style="line-height: inherit;">tax credits between the periods.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Recur<font style="font-size: 10pt;">rin<font style="line-height: inherit;">g adjusted EBITDA</font></font></font><font style="font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"> &#8211; Total of R$ 892 million (-5% vs 3Q24), impacted by lower margins, due to: (</font><font style="line-height: inherit;">i</font><font style="line-height: inherit;">) irregularities in the sector, highlighting the high level of naphtha imports for irregular sale as gasoline, (ii) inventory gain in 3Q24, (iii) partially offset by higher sales volume and lower expenses. Compared to 2Q25, there was a 32% increase, reflecting (</font><font style="line-height: inherit;">i</font><font style="line-height: inherit;">) </font><font style="line-height: inherit;">closed import parity in 3Q25, (ii) inventory loss in 2Q25, (iii) </font><font style="line-height: inherit;">higher sales volume, and (iv) lower expenses.</font></font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Investments</font><font style="line-height: inherit;"> &#8211; R$ 402 million was invested in 3Q25, allocated to the expansion and maintenance of its service stations and franchises network, in addition to investments towards enhancing the technology platform, focusing on the replacement of the ERP system.</font><font style="line-height: inherit;">&#160; </font><font style="line-height: inherit;">Of the total invested, R$ 150 million refers to additions to fixed and intangible assets, R$ 198 million to contractual assets with customers (</font><font style="line-height: inherit;">exclusiv</font><font style="line-height: inherit;">e</font><font style="line-height: inherit;"> rights</font><font style="line-height: inherit;">), and R$ 54 million of financing granted to customers, net of receipts.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 328px; width: 100%;" width="100%">

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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">UL</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">TRAGAZ</font></font><br></p>














      </td>
<td colspan="6" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














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<td colspan="4" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Year-to-date</font></p>














      </td>














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<tr style="height: 10px;">
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3Q25 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q24 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2Q25 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 3Q24</font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 2Q25</font></p>














      </td>
<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-top: 1pt solid #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M24</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; height: 10px; vertical-align: bottom; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25 x 9M24</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important; width: 36%;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total volume (&#8216;000 ton)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">446 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">473 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; width: 8%; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">432 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-6%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">285 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; width: 8%; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">311 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-2%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Bottled</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">289 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">297 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">276 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-3%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">823 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">831 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-1%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Bulk</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">157 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">175 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">156 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">462 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">480 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-4%</font></p>














      </td>














     </tr>
<tr style="height: 10px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenues</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">209 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">027 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">127 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">9</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">199 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">8</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">221 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost of products sold</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">(2</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">531)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">(2</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">422)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;"> (2</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">548)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-1%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> (7</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">407)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;"> (6</font><font style="color: #262626; line-height: inherit;">,</font><font style="color: #262626; line-height: inherit;">575)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">678 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">605 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">579 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">792 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">646 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling, general and administrative</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(270)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(241)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">(263)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(780)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(680)</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Results from disposal of assets</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">0 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">0 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(17)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(17)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">1 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">4 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">13 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">1 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-67%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">21 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">37 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-43%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">41</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">377</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">30</font><font style="color: #00458c; line-height: inherit;">1</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">017</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">005</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">MTM of energy futures contracts</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(58)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">- </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">42 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">(25)</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">- </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"><font style="font-size: 10pt;">Adjusted EBITDA <font style="font-size: 8pt;"><sup>1</sup></font></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">463 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">448 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">442 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">298 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">263 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Adjusted EBITDA margin (R$/ton)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">039 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">948 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">023 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">10%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">2%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">011 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">963 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-43%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Non-recurring <font style="font-size: 8pt;"><sup>2</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">(17)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA <font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">463</font> </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">448</font> </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">442</font> </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">5</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">298</font> </font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">246</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Recurring Adjusted EBITDA margin (R$/ton)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">039 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">948 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">023 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">10%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">2%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">1</font><font style="color: #262626; font-style: italic; line-height: inherit;">,</font><font style="color: #262626; font-style: italic; line-height: inherit;">011 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; font-style: italic; line-height: inherit;">950 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">3%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization </font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">108 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">71 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="line-height: inherit;">99 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">305 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #262626; line-height: inherit;">258 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted LTM EBITDA<font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">740 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">652 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">725 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">740 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">652 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Recurring Adjusted LTM EBITDA margin (R$/ton)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">1</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">011 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">953 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">987 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">6%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">2%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">1</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">011 </font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="font-style: italic; line-height: inherit;">953 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">6%</font></p>














      </td>














     </tr>





























   </table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>1</sup> </font><font style="line-height: inherit;">Includes contribution from the result of new energies</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>2</sup> </font><font style="line-height: inherit;">Non-recurring items described in the EBITDA calculation table &#8211; page&#160;</font><font style="line-height: inherit;">2</font></font></p>
<p style="margin: 0px; text-indent: 0px;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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









</tr>



















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









</div>
<p>&#160;</p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































</tr>



































































</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 8pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Operational performance</font><font style="line-height: inherit;"> &#8211; The volume of LPG sold totaled 446 thousand tons in 3Q25 (-6% vs 3Q24), with a 3% decrease in the bottled segment and an 11% decrease in the bulk segment, </font><font style="line-height: inherit;">reflecting the</font><font style="line-height: inherit;"> competitive dynamics of the market, which continued to be affected by the pass-through of increased costs from Petrobras auctions, in addition to lower market demand, especially in the industry segment, due to the economic slowdown.</font><font style="line-height: inherit;"> Compared to 2Q25, sales volume was 3% higher, reflecting the typical seasonality between the periods.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Net revenues &#8211; </font><font style="line-height: inherit;">Total of R$ 3,209 million (+6% vs 3Q24), due to the pass-through of inflation and increased costs of LPG, in addition to higher revenue resulting from the consolidation and growth of the new energy segment, partially offset by lower sales volume. Compared to 2Q25, net revenues increased by 3%, mainly due to higher sales volume.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Cost of goods sold</font><font style="line-height: inherit;"> &#8211; Total of R$ 2,531 million (+5% vs. 3Q24), mainly impacted by the rising cost of LPG and the costs related to the new energies segment.&#160; These effects were partially offset by the lower sales volume during the period. Compared to 2Q25, there was a 1% decrease, mainly due to the positive effect of the mark-to-market of energy futures contracts, which offset the impact of the higher sales volume.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Selling, general and administrative expenses</font><font style="line-height: inherit;"> &#8211; Total of R$ 270 million (+12% vs. 3Q24), due to higher expenses with advertising and marketing and </font><font style="line-height: inherit;">with personnel</font><font style="line-height: inherit;"> (collective bargaining agreement and consolidation of the new energies segment).&#160; Compared to 2Q25, expenses increased by 3%, mainly due to higher expenses </font><font style="line-height: inherit;">for</font> <font style="line-height: inherit;">advertising</font><font style="line-height: inherit;"> and marketing.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Other operating results &#8211;</font> <font style="line-height: inherit;">Total of R$ 4 million in 3Q25 (-R$ 8 million vs 3Q24), a decrease due to lower revenues from indemnities and contractual penalties. </font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA &#8211;</font> <font style="line-height: inherit;">Total of R$ </font><font style="line-height: inherit;">463</font><font style="line-height: inherit;"> million in 3Q25 (</font><font style="line-height: inherit;">+3</font><font style="line-height: inherit;">% vs 3Q24</font><font style="line-height: inherit;">), mainly</font><font style="line-height: inherit;"> due to the pass-through of inflation and the growth of the new energies segment, despite lower LPG sales volume. Compared to Q2 2025, the 5% increase mainly reflects the higher sales volume.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Investments</font><font style="line-height: inherit;"> &#8211; R$ 109 million was invested in 3Q25, mainly directed towards the expansion of the biomethane and bulk segment, the acquisition and replacement of bottles, as well as improvements related to infrastructure, safety and technology.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
<table cellspacing="0" cellpadding="0" style="height: 260px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

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<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; height: 20px; vertical-align: middle; border-image: initial; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-left: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">UL</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">TRACARGO</font></font><br></p>














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<td colspan="10" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #8d8b8c !important; border-right-color: #8d8b8c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














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<td colspan="7" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Year-to-date</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3Q25 </font></p>














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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q24 </font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2Q25 </font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 3Q24</font></p>














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<td colspan="3" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 2Q25</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M24</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25 x 9M24</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; width: 36%;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Installed capacity<font style="font-size: 8pt;"><sup>1</sup></font>&#160;(&#8216;000 m&#179;)</font></p>














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<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">097 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">067 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">067 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">0</font><font style="line-height: inherit;">77</font> </font></p>














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<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">067 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">1</font><font style="line-height: inherit;">%</font></font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">m&#179; sold (&#8216;000 m&#179;)</font></p>














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<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 3</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">845 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 4</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">357 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 3</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">703 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-12%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 11</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">573 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;"> 12</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">860 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-10%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenues</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">243</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 266 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 247 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-9%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-2%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">760 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 793 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-4%</font></p>














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<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cost of service provided</font></p>














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<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (115)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (97)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (104)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (323)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (285)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13%</font></p>














      </td>














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<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>














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<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">127</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 169 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 142 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-25%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 508 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-14%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; font-style: italic; line-height: inherit;">Gross margin </font><font style="color: #262626; font-style: italic; line-height: inherit;">(%)</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">52%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">63%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">58%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-11</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">1p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-5</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">3p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">57%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">64%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-6</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">6p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Selling, general and administrative</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (41)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (45)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (45)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (128)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (136)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Results from disposal of assets</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (0)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (0)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (0)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-98%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-89%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 0 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (0)</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-208%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 6 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-50%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-32%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 10 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 11 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-12%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">134 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 168 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 141 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-20%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">441 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 498 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-11%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; font-style: italic; line-height: inherit;">Adjusted EBITDA margi</font><font style="color: #262626; font-style: italic; line-height: inherit;">n </font><font style="color: #262626; font-style: italic; line-height: inherit;">(%)</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">55%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">63%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">57%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-7</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">8p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-1</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">7p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">58%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">63%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-4</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">8p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Adjusted EBITDA margin (R$/ m&#179; capacity)</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">41</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">52</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">44</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">21%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-7%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">46</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">52</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">-12%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Depreciation and amortization<font style="font-size: 8pt;"><sup>2</sup></font></font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 46 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 39 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 38 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19%</font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">20%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 121 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 114 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted LTM EBITDA</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">611</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;"> 65</font><font style="color: #00458c; line-height: inherit;">3</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 644 </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">-</font><font style="color: #00458c; line-height: inherit;">6</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-5%</font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"> <font style="color: #00458c; font-weight: bold; line-height: inherit;">611 </font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;"> 65</font><font style="color: #00458c; line-height: inherit;">3</font> </font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">-</font><font style="color: #00458c; line-height: inherit;">6</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; font-style: italic; line-height: inherit;">Adjusted LTM EBITDA</font> <font style="color: #262626; font-style: italic; line-height: inherit;">(%)</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">59%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">62%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">60%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-</font><font style="font-style: italic; line-height: inherit;">3</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">6</font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="3" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-</font><font style="font-style: italic; line-height: inherit;">1</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">9</font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">59%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">62%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">-</font><font style="font-style: italic; line-height: inherit;">3</font><font style="font-style: italic; line-height: inherit;">.</font><font style="font-style: italic; line-height: inherit;">6</font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














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<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><sup><font style="line-height: inherit;">1&#160;</font></sup><font style="line-height: inherit;">Monthly average</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>2</sup>&#160;</font><font style="line-height: inherit;">Includes amortization of fair value adjustments on associates acquisition</font></font></p>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">79</font></font></td>









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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









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<p>&#160;</p>
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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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<p style="font-size: 10pt; line-height: 1.2; margin: 8pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Operational performance &#8211;</font> <font style="font-size: 10pt; line-height: inherit;">The average installed capacity increased by 3%, with the addition of 23 thousand m&#179; in </font><font style="font-size: 10pt; line-height: inherit;">Palmeirante</font><font style="font-size: 10pt; line-height: inherit;"> and 7 thousand m&#179; in </font><font style="font-size: 10pt; line-height: inherit;">Rondon&#243;polis</font><font style="font-size: 10pt; line-height: inherit;">.</font><font style="font-size: 10pt; line-height: inherit;"> The billed volume was 12% lower than in 3Q24, reflecting lower demand for storage in fuel imports, which resulted in lower handling in Santos, </font><font style="font-size: 10pt; line-height: inherit;">Itaqui</font><font style="font-size: 10pt; line-height: inherit;"> and </font><font style="font-size: 10pt; line-height: inherit;">Suape</font><font style="font-size: 10pt; line-height: inherit;">. This impact was partially offset by higher volume handled in </font><font style="font-size: 10pt; line-height: inherit;">Opla</font><font style="font-size: 10pt; line-height: inherit;">. Compared to 2Q25, the billed volume increased by 4%, resulting from higher handling in </font><font style="font-size: 10pt; line-height: inherit;">Opla</font><font style="font-size: 10pt; line-height: inherit;"> and </font><font style="font-size: 10pt; line-height: inherit;">Rondon&#243;polis</font><font style="font-size: 10pt; line-height: inherit;">, partially offset by a decrease in handling of fuels in Santos.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenues</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Total of R$ 243 million (-9% vs 3Q24), reflecting the effects of volume mentioned above, even with better tariffs. Compared to 2Q25, there was a 2% decrease, due to the worst sales mix.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Cost of services provided &#8211;</font> <font style="font-size: 10pt; line-height: inherit;">Total of R$ 115 million (+19% vs 3Q24 and +11% vs 2Q25), with higher costs with depreciation due to the conclusion of expansions, pre-operational costs and costs with the start of operation at </font><font style="font-size: 10pt; line-height: inherit;">Palmeirante</font><font style="font-size: 10pt; line-height: inherit;">, which is still in its ramp-up phase, and increased maintenance. </font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Selling, general and administrative expenses &#8211;</font> <font style="font-size: 10pt; line-height: inherit;">Total of R$ 41 million </font><font style="font-size: 10pt; line-height: inherit;">(-8% vs 3Q24 and -8% vs 2Q25), with lower personnel expenses (mainly variable compensation, in line with lower operating result).</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; Total of R$ 134 million in 3Q25 (-20% vs 3Q24), mainly explained by lower billed volume, due to lower demand for storage in fuel import by our customers, and higher pre-operational costs and costs with the start of operation at </font><font style="font-size: 10pt; line-height: inherit;">Palmeirante</font><font style="font-size: 10pt; line-height: inherit;"> (in ramp-up), partially offset by better tariffs.</font><font style="font-size: 10pt; line-height: inherit;"> Compared to 2Q25, there was a 5% decrease explained by the worst sales mix, in addition to higher operating costs.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Investments</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; R$ 169 million was invested in 3Q25, primarily allocated to capacity expansion projects at the terminals of </font><font style="font-size: 10pt; line-height: inherit;">Itaqui</font><font style="font-size: 10pt; line-height: inherit;"> and </font><font style="font-size: 10pt; line-height: inherit;">Suape</font><font style="font-size: 10pt; line-height: inherit;">.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="font-size: 10pt; line-height: inherit;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 308px; width: 100%;" width="100%">

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<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-top-width: 1px; border-top-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-left-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">HIDROVIAS DO BRASIL</font></p>














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<td colspan="5" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














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<td colspan="4" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Year-to-date</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3Q25 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q24 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2Q25 </font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 3Q24</font></p>














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<td colspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3Q25 x 2Q25</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M24</font></p>














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<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9M25 x 9M24</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; width: 36%; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total volume (thousand ton)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">182</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">3</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">981</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">4</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">922</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">14</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">266</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">12</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">490</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; width: 8%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Net </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">r</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">evenue</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">705</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">463</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">684</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">52%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">931</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">1</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">420</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">36%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">&#160; </font><font style="line-height: inherit;">Net operating revenue</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">711</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">488</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">690</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">46%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">956</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">1</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">484</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">32%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">&#160; </font><font style="line-height: inherit;">Hedge accounting </font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-77%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-7%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(25)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(64)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-60%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operating costs</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(300)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(266)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(300)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(850)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(765)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization (costs)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(83)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(84)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(85)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-2%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-2%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(256)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(241)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">322</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">113</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">300</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">186%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; line-height: inherit;">8</font><font style="color: #00458c; line-height: inherit;">%</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">824</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">414</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; font-style: italic; line-height: inherit;">Gross margin </font><font style="color: #262626; font-style: italic; line-height: inherit;">(%)</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">46%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">24%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">44%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">22</font> <font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">&#160;&#160;&#160;&#160; </font><font style="font-style: italic; line-height: inherit;">2</font> <font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">43%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">29%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">14</font> <font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">General and administrative</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(76)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(69)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(55)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">10%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">39%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(186)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(199)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-7%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization (expenses)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(28)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(8)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-77%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-20%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(24)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(64)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-63%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Results from disposal of assets</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(23)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(48)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">-</font><font style="line-height: inherit;">51</font><font style="line-height: inherit;">%</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(106)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">n/a</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Other operating income (expenses), net</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">11</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-69%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">-</font><font style="line-height: inherit;">14</font><font style="line-height: inherit;">%</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">15</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">21</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-32%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjusted EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">332</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">169</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">304</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">97%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">9%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">856</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">556</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">54%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; font-style: italic; line-height: inherit;">Adjusted EBITDA margin </font><font style="color: #262626; font-style: italic; line-height: inherit;">(%)</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">47%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">35%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">44%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">12 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">3 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">44%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">37%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">6 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Non-recurring <font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">44</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">n/a</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-33%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">109</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">n/a</font> </font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">361</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">169</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">348</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">114%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">965</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">586</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">65%</font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">Recurring adjusted EBITDA margin (%)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">51%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">35%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">50%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">16 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">0 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">49%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">39%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="font-style: italic; line-height: inherit;">10 </font><font style="font-style: italic; line-height: inherit;">p.</font><font style="font-style: italic; line-height: inherit;">p.</font></font></p>














      </td>














     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">90</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">113</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">93</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-20%</font></p>














      </td>
<td colspan="2" style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-4%</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">281</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">306</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-8%</font></p>














      </td>














     </tr>





























   </table>
<p style="font-size: 11pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="font-size: 7pt; line-height: inherit;"><br></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; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>1</sup> Non-recurring items for </font><font style="line-height: inherit;">3</font><font style="line-height: inherit;">Q25 are described in the EBITDA calculation table &#8211; page </font><font style="line-height: inherit;">2</font><font style="line-height: inherit;">. </font><font style="line-height: inherit;">Regarding the comparative periods, non-recurring items can be consulted directly in the Earnings Release, on the company&#8217;s website. </font><font style="color: #0000ff; text-decoration: underline; line-height: inherit;">Results Center - Hidrovias IR</font></font></p>
<p style="font-size: 3pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 3pt; line-height: inherit;">&#160;</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The table above presents Hidrovias&#8217; full results since January 2024, as disclosed by the company&#8217;s on its Investor Relations website. The figures were maintained as originally published, reflecting the complete quarterly results. </font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Ultrapar&#8217;s</font><font style="line-height: inherit;"> consolidated figures in 2Q25 include the consolidation of Hidrovias results for May and June 2025, in addition to the share of profit (loss) of subsidiaries, joint ventures and associates of Hidrovias between May 2024 and April 2025.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">80</font></font></td>









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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









</div>
<p>&#160;</p>
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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 8pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Operational performance &#8211;</font><font style="font-size: 10pt; line-height: inherit;"> Total volume handled increased by 30% vs 3Q24 and 5% vs 2Q25, highlighting the normalization of navigation and the resulting recovery in iron ore volume in the South Corridor. </font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Net revenue (ex-hedge accounting) </font><font style="font-size: 10pt; line-height: inherit;">&#8211; Total of R$ 711 million in 3Q25 (46% vs 3Q24 and +3% vs 2Q25) mainly reflecting the higher volume handled in the South Corridor and a better sales mix.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Cost of services provided &#8211;</font><font style="font-size: 10pt; line-height: inherit;"> Total of R$ 383 million in 3Q25 (+9% vs 3Q24 and stable vs 2Q25). Excluding depreciation and amortization costs, they totaled R$ 300 million in 3Q25 (13% vs 3Q24 and stable vs 2Q25), mainly due to the higher volume handled in the period.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">General and administrative expenses &#8211; </font><font style="font-size: 10pt; line-height: inherit;">Total of R$ 83 million (-15% vs 3Q24 and +31% vs 2Q25). Excluding depreciation and amortization expenses, they totaled R$ 76 million in 3Q25 (+10% vs 3Q24 and +39% vs 2Q25), a growth mainly due to the higher variable compensation expenses, in line with the progression of results.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Recurring Adjusted EBITDA &#8211; </font><font style="font-size: 10pt; line-height: inherit;">Total of R$ 361 million in 3Q25 (+ 114% vs 3Q24 and +4% vs 2Q25), a record result for the company due to better navigability conditions in the South Corridor and a better sales mix.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="color: #00458c; font-size: 10pt; font-weight: bold; line-height: inherit;">Investments</font><font style="font-size: 10pt; line-height: inherit;"> &#8211; R$ 69 million was invested in 3Q25 (in line with 3Q24 and -24% vs 2Q25) allocated to the modular expansion projects in the North Corridor and the docking of one of the Coastal Navigation ships.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
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<tr style="height: 10px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-right: 1pt solid #8d8b8c; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-left-width: 1pt; border-left-style: solid; border-left-color: #00458c;">
<p style="margin: 0pt 14.05pt 0pt 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">U</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">LTRAPAR</font> <font style="color: #ffffff; font-weight: bold; line-height: inherit;">&#8211;</font> <font style="color: #ffffff; font-weight: bold; line-height: inherit;">I</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ndebtedness</font></font></p>














      </td>
<td colspan="3" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














      </td>













     </tr>
<tr style="height: 10px;">
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">2</font><font style="color: #ffffff; line-height: inherit;">5</font></font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">2</font><font style="color: #ffffff; line-height: inherit;">4</font></font></p>














      </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-top-width: 1pt; border-top-style: solid; border-top-color: #00458c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">2</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25</font></font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; width: 70%; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Cash and cash equivalents<font style="font-size: 8pt;"><sup>1</sup></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; width: 10%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,668</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,370</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; width: 10%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,437</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Gross debt<font style="font-size: 8pt;"><sup><font style="color: #262626; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1</font></sup></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,188)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(13,848)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(17,618)</font></p>














      </td>













     </tr>
<tr style="height: 10px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,708)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,489)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,749)</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Derivative financial instruments<font style="font-size: 8pt;"><sup>1</sup></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">185</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">295</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net debt</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(12,043)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(7,968)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(12,635)</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-weight: bold; line-height: inherit;"><font style="font-size: 8pt;"><font style="font-size: 8pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Adjusted LTM EBITDA</font></font><sup>2</sup></font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">7</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">058</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">955</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: top; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">6</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">779</font></font></p>














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<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net debt/Adjusted LTM EBITDA<font style="font-size: 8pt;"><sup>2</sup></font></font></p>














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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">.</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">7x</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">.</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">3x</font></font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">.</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">9x</font></font></p>














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<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables &#8211; reverse factoring (draft discount)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">-</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(1,291)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(258)</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Financial liabilities of customers (vendor)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(97)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(211)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(122)</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net debt + draft discount + vendor + receivables</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(12,140)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(9,470)</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(13,015)</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Average gross debt duration (years)</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,6</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,3</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3,6</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 32px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Average cost of gross debt</font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">102% DI</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">110% DI</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">107% DI</font></p>














      </td>













     </tr>
<tr style="height: 16px;">
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">DI +0.3%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">DI + 1.0%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">DI + 0.9%</font></p>














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     </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt 14.05pt 0pt 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average</font><font style="color: #262626; line-height: inherit;"> cash </font><font style="color: #262626; line-height: inherit;">yield</font><font style="color: #262626; line-height: inherit;"> (% DI)</font></font></p>














      </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">96%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">97%</font></p>














      </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99%</font></p>














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<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 7pt; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>1</sup> </font><font style="line-height: inherit;">In 2Q25, the &#8220;Cash and cash equivalents&#8221; and &#8220;Gross debt&#8221; lines no longer present the balance of &#8220;Derivative financial instruments&#8221;. For further information, please see note 26 of&#160;</font><font style="line-height: inherit;">Ultrapar&#8217;s</font><font style="line-height: inherit;">&#160;financial statements.</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>2</sup> Adjusted LTM EBITDA does not include extraordinary tax credits. With the consolidation of Hidrovias, Adjusted LTM EBITDA for 2Q25 includes the effect of Hidrovias&#8217; Adjusted EBITDA for the</font><font style="line-height: inherit;">&#160;last 12 months, excluding the effects of share of profit (loss) of subsidiaries, joint ventures and associates&#8221;&#160;</font><font style="line-height: inherit;">counted</font><font style="line-height: inherit;">&#160;at Ultrapar.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultrapar ended 3Q25 with a net debt of R$ 12,043 million (1.7x Adjusted LTM EBITDA), a decrease compared to the R$ 12,635 million recorded in the immediately preceding quarter (1.9x Adjusted LTM EBITDA). This improvement reflects the solid cash generation during the period, which more than offset the payment of R$ 326 million in dividends made in August 2025 and the reduction of R$ 258 million in the reverse factoring balance. The reduction in leverage reflects lower net debt and higher Adjusted LTM EBITDA.</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">81</font></font></td>









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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>









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<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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<p style="font-size: 12pt; line-height: 1.2; margin: 8pt 0pt 0pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Cash and maturity profile and breakdown of the gross debt (R$ m</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">illion)</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">:</font> </font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"><br></font></font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"><img src="ca35361dc4a9ccabeb05.jpg" style="display: block; margin-left: auto; margin-right: auto;;height:160;width:618;" alt="Graphics"><br></font></font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"><br></font></font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"><img src="c643d86eb0ace22f2562.jpg" style="display: block; margin-left: auto; margin-right: auto;;height:185;width:618;" alt="Graphics"></font></font></p>
<p style="margin: 0pt 0pt 10pt; color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 12pt; line-height: 1.2;"><font style="color: #3cbfbe; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold; line-height: inherit;">Updates on ESG themes</font></p>
<p style="margin: 0pt 0pt 10pt; color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; line-height: 1.2; text-align: justify;"><font style="color: #3cbfbe; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Business</font></p>
<p style="margin: 0pt 0pt 10pt; 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: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Ultragaz<font>&#160;</font>won the 3rd place in the SP Carbon Zero Award, in the Energy Transition category, with the Off-Grid<font>&#160;</font>Biomethane<font>&#160;</font>project, which replaces natural gas with a 100% renewable source. The initiative has already prevented the emission of more than 24,500 tons of CO&#8322; equivalent and has received R$50 million in investments for expansion and technological development. This recognition reinforces<font>&#160;</font></font><font style="line-height: inherit;">Ultragaz&#8217;s</font><font style="line-height: inherit;"><font>&#160;</font>commitment to innovative and sustainable solutions for the Brazilian energy matrix.</font></font></p>
<p style="margin: 0pt 0pt 10pt; 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: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Ultracargo<font>&#160;</font>has been recognized with the Gold Seal of the SP Carbon Zero Commitment, granted by the Government of<font>&#160;</font>S&#227;o<font>&#160;</font>Paulo, being the only company in the storage sector to receive this distinction. The recognition highlights consistent actions in reducing and offsetting emissions, reinforcing its commitment to the transition to a low-carbon economy.</font></p>
<p style="margin: 0pt 0pt 10pt; 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: normal; orphans: 2; text-indent: 0pt; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hidrovias<font>&#160;</font>has strengthened its corporate governance by updating its Code of Ethics and Anti-Corruption Policy, incorporating guidelines on data protection and the responsible use of artificial intelligence. It also implemented the new Corporate Competition Policy, strengthening compliance and integrity practices in line with the highest regulatory and ethical standards.</font></p>
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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>

































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<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20px; border-top-width: 1px; border-top-style: solid; border-left-width: 1px; border-left-style: solid; border-right: 1pt solid #8d8b8c; border-top-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ULTRAPAR</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;"> -</font><font style="color: #ffffff; line-height: inherit;">&#160;</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">Capital markets</font></font></p>














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<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Quarter</font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25</font></font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">24</font></font></p>














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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #ffffff; line-height: inherit;">2</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25</font></font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; width: 70%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Final number of shares </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">(&#8216;000 shares) </font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">1,115,850</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,115,440</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,115,507</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Market cap<font style="font-size: 8pt;"><sup>1</sup></font></font><font style="color: #00458c; font-weight: bold; line-height: inherit;">&#160;</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">(R$ </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">million</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">)</font></font></p>














       </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">24,515</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29,564</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">19,566</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">B3</font></p>














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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily trading volume </font><font style="color: #262626; line-height: inherit;">(</font><font style="color: #262626; line-height: inherit;">&#8216;000</font><font style="color: #262626; line-height: inherit;"> shares)</font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,302</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,393</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,872</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily financial volume </font><font style="color: #262626; line-height: inherit;">(R$ thousand)</font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">97,953</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">122,972</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">99,322</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average share price </font><font style="color: #262626; line-height: inherit;">(R$/share)</font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18.47</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22.80</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16.91</font></p>














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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">NYSE</font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>













      </tr>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Quantity of ADRs<font style="font-size: 8pt;"><sup>2</sup></font>&#160;</font><font style="color: #262626; line-height: inherit;">(</font><font style="color: #262626; line-height: inherit;">&#8216;000</font><font style="color: #262626; line-height: inherit;"> ADRs)</font></font></p>














       </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">70,253</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">59,258</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">67,360</font></p>














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<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily trading volume </font><font style="color: #262626; line-height: inherit;">(</font><font style="color: #262626; line-height: inherit;">&#8216;000</font><font style="color: #262626; line-height: inherit;"> ADRs)</font></font></p>














       </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,898</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,211</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,962</font></p>














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      </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily financial volume </font><font style="color: #262626; line-height: inherit;">(US$ thousand)</font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,464</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4,954</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">5,928</font></p>














       </td>













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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average share </font><font style="color: #262626; line-height: inherit;">(US$/ADRs)</font></font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.41</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4.09</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3.02</font></p>














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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total</font></p>














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<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>














       </td>













      </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily trading volume </font><font style="color: #262626; line-height: inherit;">(</font><font style="color: #262626; line-height: inherit;">&#8216;000</font><font style="color: #262626; line-height: inherit;"> shares)</font></font></p>














       </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,200</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">6,604</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">7,834</font></p>














       </td>













      </tr>
<tr style="height: 16px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 16px; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #262626; line-height: inherit;">Average daily financial volume </font><font style="color: #262626; line-height: inherit;">(R$ thousand)</font></font></p>














       </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">133,139</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">150,482</font></p>














       </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; height: 16px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">132,869</font></p>














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<div style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2;"><font style="font-size: 7pt; line-height: inherit;"><font style="line-height: inherit;"><br></font></font></div>
<div style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2;"><font style="font-size: 8pt;"><font style="line-height: inherit;"><font style="line-height: inherit;"><sup>1</sup> </font></font><font style="line-height: inherit;"><font style="line-height: inherit;">Calculated on the closing share price for the period</font></font></font>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 1.2;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 8pt;"><font style="line-height: inherit;"><sup>2</sup> </font><font style="line-height: inherit;">1 ADR = 1&#160;</font><font style="line-height: inherit;">commom</font><font style="line-height: inherit;">&#160;share</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; line-height: inherit;"><font style="font-size: 10pt; line-height: inherit;">The average daily trading volume of Ultrapar, considering trades on B3 and NYSE, was </font><font style="font-size: 10pt; line-height: inherit;">R$ 133 million</font><font style="font-size: 10pt; line-height: inherit;">/day in </font><font style="font-size: 10pt; line-height: inherit;">3</font><font style="font-size: 10pt; line-height: inherit;">Q25 (-</font><font style="font-size: 10pt; line-height: inherit;">12</font><font style="font-size: 10pt; line-height: inherit;">% vs </font><font style="font-size: 10pt; line-height: inherit;">3</font><font style="font-size: 10pt; line-height: inherit;">Q24). </font><font style="font-size: 10pt; line-height: inherit;">Ultrapar&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> shares</font><font style="font-size: 10pt; line-height: inherit;"> showed strong appreciation during the quarter, closing 3</font><font style="font-size: 10pt; line-height: inherit;">Q25 at R$ </font><font style="font-size: 10pt; line-height: inherit;">21</font><font style="font-size: 10pt; line-height: inherit;">.</font><font style="font-size: 10pt; line-height: inherit;">97</font><font style="font-size: 10pt; line-height: inherit;"> on B3, </font><font style="font-size: 10pt; line-height: inherit;">up</font> <font style="font-size: 10pt; line-height: inherit;">25</font><font style="font-size: 10pt; line-height: inherit;">% in the quarter, while Ibovespa index appreciated by </font><font style="font-size: 10pt; line-height: inherit;">5%</font><font style="font-size: 10pt; line-height: inherit;">. On the NYSE, </font><font style="font-size: 10pt; line-height: inherit;">Ultrapar&#8217;s</font><font style="font-size: 10pt; line-height: inherit;"> shares </font><font style="font-size: 10pt; line-height: inherit;">also rose</font> <font style="font-size: 10pt; line-height: inherit;">25</font><font style="font-size: 10pt; line-height: inherit;">%, while the Dow Jones index appreciated by 5% in the quarter. </font><font style="font-size: 10pt; line-height: inherit;">As a result, </font><font style="font-size: 10pt; line-height: inherit;">Ultrapar ended </font><font style="font-size: 10pt; line-height: inherit;">the quarter</font><font style="font-size: 10pt; line-height: inherit;"> with a market cap of R$ </font><font style="font-size: 10pt; line-height: inherit;">24</font><font style="font-size: 10pt; line-height: inherit;">.</font><font style="font-size: 10pt; line-height: inherit;">5</font><font style="font-size: 10pt; line-height: inherit;"> billion.</font></font><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 9pt; font-weight: bold; line-height: inherit;">UGPA3 x Ibovespa&#160;performance</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">(Base 100)</font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"><img src="c546abfbc43c743e3782.jpg" alt="Graphics"></font><br></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 6pt 0pt; text-indent: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>Source: Broadcast</font></font></p>
<p style="font-size: 12pt; line-height: 1.2; margin: 6pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;">3</font><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;">Q</font><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;">2</font><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;">5</font><font style="color: #3cbfbe; font-weight: bold; line-height: inherit;"> Conference call</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 6pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Ultrapar will host a conference call with analysts and investors on </font><font style="line-height: inherit;">November </font><font style="line-height: inherit;">1</font><font style="line-height: inherit;">3</font><font style="line-height: inherit;">, 2025, to comment on the Company&#8217;s performance in the </font><font style="line-height: inherit;">third</font><font style="line-height: inherit;"> quarter of 2025 and its outlook. The presentation will be available for download on the Company&#8217;s website 30 minutes prior to the start.</font></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 6pt 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">The conference call will be broadcast via zoom and conducted in Portuguese with simultaneous translation into English. Please connect 10 minutes in advance</font><font style="line-height: inherit;">.</font></font><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<p style="margin: 10pt 0pt 0pt; line-height: 1.2; text-indent: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Conference call in Portuguese with simultaneous translation into English</font><br><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Time: 11:00 (BRT) / 9:00 (EDT)</font><font style="color: #051373; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>
<p style="margin: 10pt 0pt 0pt; line-height: 1.2; text-indent: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Access link via Zoom</font></p>
<p style="font-size: 11pt; line-height: 1.2; margin: 0pt 0pt 8pt;"><font style="font-family: 'times new roman', times; line-height: inherit; font-size: 10pt;"><font style="line-height: inherit;">Participants in Brazil and international</font><font style="line-height: inherit;">:</font> <font style="color: #0000ff; text-decoration: underline; line-height: inherit;">Click here</font><font style="line-height: inherit;">.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">83</font></font></td>









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    </div><div id="Dxrndg8pydumtay1c0dfim" style="font-family: 'times new roman', times; font-size: 10pt;">
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<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























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<p style="margin: 0pt;"><br></p>
<p style="margin: 0px; text-indent: 0px;"><b style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
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<td rowspan="2" style="background-color: #00458c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="font-size: 7pt; line-height: 108%; margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ULTRAPAR </font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">- </font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">Balance sheet</font></font></p>








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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 25 </font></font></p>








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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 25</font></font></p>
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">Continu</font><font style="color: #ffffff; line-height: inherit;">ed</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 25</font></font></p>
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">D</font><font style="color: #ffffff; line-height: inherit;">iscontinued</font></font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;"><br></td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; border-image: initial; height: 20px; margin: 0px; text-indent: 0px; border-width: 1px; border-color: #8d8b8c !important; border-style: solid;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 24 </font></font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;"><br></td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; border-image: initial; height: 20px; margin: 0px; text-indent: 0px; border-width: 1px; border-color: #8d8b8c !important; border-style: solid;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"> Jun 25 </font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Jun 25</font></p>
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">Continu</font><font style="color: #ffffff; line-height: inherit;">ed</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Jun 25</font></p>
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">D</font><font style="color: #ffffff; line-height: inherit;">iscontinued</font></font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 42%;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">A</font><font style="font-weight: bold; line-height: inherit;">SSETS</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 1%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 1%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Cash </font><font style="line-height: inherit;">and</font><font style="line-height: inherit;"> cash </font><font style="line-height: inherit;">equivalents</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,550</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,534</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">16</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,855</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,909</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,897</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">12</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial investments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,491</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,490</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">377</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,089</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,088</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1</font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Derivative instruments<sup>1</sup></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">181</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">181</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">157</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">157</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Trade receivables and reseller financing</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,270</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,212</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,127</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,278</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,233</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">45</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Trade receivables - sale of subsidiaries</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,843</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,824</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,742</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,055</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4,039</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">17</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Recoverable taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,024</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,992</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">31</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,694</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,336</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,309</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">27</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Energy trading futures </font><font style="color: #262626; line-height: inherit;">contracts</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">236</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">236</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">140</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">226</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">226</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Prepaid expenses </font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">166</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">166</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">127</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">211</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">211</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Contractual assets with customers &#8211; exclusive rights</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">663</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">663</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">744</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">644</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">644</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">O</font><font style="line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">317</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">289</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">28</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">359</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">382</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">353</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">29</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Assets held for sale</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">709</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">700</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">current assets</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">15</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">741</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">16</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">297</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">153</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">16</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">166</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">16</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">288</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">16</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">857</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">130</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial Investments and other financial assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,628</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,609</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,137</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,439</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,420</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19</font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Derivative instruments<sup>1</sup></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">655</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">655</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">635</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">635</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Trade receivables and reseller financing</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">797</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">797</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">710</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">761</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">761</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">925</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">849</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">77</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,326</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">976</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">896</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">80</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Recoverable</font><font style="line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,924</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,924</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,629</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,614</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,614</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">0</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Energy trading futures </font><font style="line-height: inherit;">contracts</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">424</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">424</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">205</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">314</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">314</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Escrow </font><font style="line-height: inherit;">deposits</font> </font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">503</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">481</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">22</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,052</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">492</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">471</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">21</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Prepaid</font> <font style="line-height: inherit;">expenses</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">56</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Contractual assets with customers - exclusive rights</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,473</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,473</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,399</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,444</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,444</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Related</font> <font style="line-height: inherit;">parties</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">91</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">91</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">45</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">60</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">60</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Other </font><font style="line-height: inherit;">receivables</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">415</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">406</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">268</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">393</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">387</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Investments in subsidiaries, joint ventures and associates</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">397</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">506</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(109)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,720</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">430</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">510</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(80)</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Right-of-use assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,927</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,927</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,691</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,940</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,940</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Property, plant and equipment</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">12,205</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">11,829</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">376</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,756</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">11,943</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">11,583</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">360</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Intangible assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,402</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,239</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">163</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,162</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,823</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,660</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">163</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total non-current assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">29,824</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">29,268</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">556</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">23,156</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">29,321</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">28,751</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">569</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total a</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">ssets</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,565</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,565</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">709</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">39,322</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,608</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,608</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">700</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Trade payables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,429</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,413</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">16</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,051</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,876</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,855</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">20</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Trade payables - reverse factoring</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,291</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">258</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">258</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Loans, financing and deb</font><font style="line-height: inherit;">e</font><font style="line-height: inherit;">ntures</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,705</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,642</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">63</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,386</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,095</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3,031</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">64</font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Derivative instruments<sup>1</sup></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">206</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">206</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">157</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">157</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">549</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">544</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">5</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">466</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">442</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">438</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Taxes payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">543</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">524</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">529</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">593</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">573</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">19</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">336</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">336</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">321</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">376</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">376</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Energy trading futures contracts</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">175</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">175</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">92</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">176</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">176</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial liabilities of customers (vendor)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">76</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">76</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">126</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">93</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">93</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Dividends payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">17</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">17</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">62</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">86</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">86</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Others</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">535</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">535</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">967</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">764</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">764</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Liabilities held for sale</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">442</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">472</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">current liabilities</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">8</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">570</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">8</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">910</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">102</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">10</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">292</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">8</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">914</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">9</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">280</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">107</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Loans, financing and debentures</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">14,483</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">14,143</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">340</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">10,462</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">14,523</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">14,158</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">365</font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Derivative instruments<sup>1</sup></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">376</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">376</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">295</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">295</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Energy trading futures contracts</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">170</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">170</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">57</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">107</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">107</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Provision for tax, civil and labor risks</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">628</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">628</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,242</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">625</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">625</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Post-employment benefits</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">213</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">213</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">255</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">209</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">209</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,371</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,371</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,168</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,374</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,374</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial liabilities of customers (vendor)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">21</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">21</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">84</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">30</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">30</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Related parties</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Others</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,063</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,063</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">410</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,132</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,132</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total non-current liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,328</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">17,988</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">340</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">13,681</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,298</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">17,933</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">365</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total</font> <font style="color: #00458c; font-weight: bold; line-height: inherit;">liabilities</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">26,898</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">26,898</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">442</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">23,973</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">27,212</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">27,212</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">472</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">EQUITY</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Share capital</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">7,987</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">7,987</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,622</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,622</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,622</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">Reser</font><font style="line-height: inherit;">ves</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">7,243</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">7,243</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6,999</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">8,602</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">8,602</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Treasury shares</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(827)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(827)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(449)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(810)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(810)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">O</font><font style="line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,985</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,985</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,532</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,660</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,660</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Non-controlling interests in subsidiaries</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,279</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,279</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">645</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,322</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,322</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">equity</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,667</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,667</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">15,348</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,396</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">18,396</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">-</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">liabilities</font> <font style="color: #00458c; font-weight: bold; line-height: inherit;">and</font><font style="color: #00458c; font-weight: bold; line-height: inherit;"> Equity</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,565</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,565</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">442</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">39,322</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,608</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">45,608</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">472</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Cash and cash equivalents</font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">6</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">668</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">7</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">370</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">6</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">437</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Gross debt</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;">(17</font><font style="line-height: inherit;">,</font><font style="line-height: inherit;">188)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">(13</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">848)</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">(17</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">618)</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">Derivative financial instruments<sup>1</sup></font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">185</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">295</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">(1</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">708)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">(1</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">489)</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-style: italic; line-height: inherit;">(1</font><font style="font-style: italic; line-height: inherit;">,</font><font style="font-style: italic; line-height: inherit;">749)</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">&#160;</font></p>








 </td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">Net debt</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">(12</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">043)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">(7</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">968)</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">(12</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-style: italic; font-weight: bold; line-height: inherit;">635)</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
</tr>









</table>
<p style="font-size: 7pt; line-height: 1.2; margin: 5pt 0pt 8pt; text-indent: 0pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; vertical-align: super; line-height: inherit; font-size: 8pt;">1</font><font style="font-size: 8pt;"><font style="font-family: Aptos; line-height: inherit;"> In 2Q25</font><font style="font-family: Aptos; line-height: inherit;">, the </font><font style="font-family: Aptos; line-height: inherit;">&#8220;</font><font style="font-family: Aptos; line-height: inherit;">cash a</font><font style="font-family: Aptos; line-height: inherit;">nd cash equivalent&#8221; and &#8220;gross debt&#8221; lines no longer included the balance of derivate instruments</font></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-indent: 0px;">&#160;</p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><font style="font-family: Calibri; font-size: 10pt; line-height: inherit;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; height: 661px; width: 100%; text-indent: 0px;" width="100%">

<tr style="height: 10px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-width: 1px; border-color: #00458c !important #8d8b8c !important #00458c !important #00458c !important; border-style: solid;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ULTRAPAR </font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">&#8211;</font> <font style="color: #ffffff; font-weight: bold; line-height: inherit;">Income statement</font> </font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> 3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"> <font style="color: #ffffff; line-height: inherit;">Continued op.</font> </font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"> <font style="color: #ffffff; line-height: inherit;">Discontinued op.</font></font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> 3</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">24 </font></font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;">2</font><font style="color: #ffffff; line-height: inherit;">Q</font><font style="color: #ffffff; line-height: inherit;">25</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"> <font style="color: #ffffff; line-height: inherit;">Continued op.</font> </font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"> <font style="color: #ffffff; line-height: inherit;">Discontinued op.</font></font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; border-image: initial; height: 20px; margin: 0px; text-indent: 0px; border-width: 1px; border-color: #8d8b8c !important; border-style: solid;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9M25</font></p>








 </td>
<td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 20px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">9M24</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; width: 18%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Net revenues from sales and services</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">37,088</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">37,034</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">54</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; width: 1%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">35,358</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; width: 1%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">34,088</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">34,055</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">33</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; width: 1%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">104,505</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; width: 1%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 8%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">98,098</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Cost of products sold and services provided</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(34,588)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(34,556)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(31)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(33,076)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(31,933)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(31,907)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(26)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(97,708)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(91,646)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Gross Profit</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,501</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,478</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">23</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,282</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,155</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">2,148</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">7</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">6,797</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">6,451</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Operating revenues (expenses)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Selling and marketing</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(604)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(604)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(671)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(649)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(649)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,854)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,884)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">General and administrative</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(571)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(569)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(2)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(421)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(541)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(539)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,630)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,375)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Results from disposal of assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(16)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">13</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(29)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">31</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(28)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">15</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(44)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(39)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">105</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Other operating income (expenses), net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">127</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">124</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(111)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">453</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">450</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">494</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(337)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Operating income</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">437</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">441</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(5)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">111</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">391</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">425</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(35)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">768</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">960</font></font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Financial result</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial income</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">375</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">373</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">221</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">648</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">644</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,200</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">662</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Financial expenses</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(777)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(774)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(2)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(329)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(678)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(676)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(3)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,812)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1,258)</font></p>








 </td>







</tr>
<tr style="height: 34px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Total share of profit (loss) of subsidiaries, joint ventures and associates</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Share of profit (loss) of </font><font style="color: #262626; line-height: inherit;">subsidiaries</font><font style="color: #262626; line-height: inherit;">, joint ventures and associates</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(8)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(8)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">41</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">41</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(116)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(7)</font></p>








 </td>







</tr>
<tr style="height: 34px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Amortization of fair value adjustments on associates acquisition</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(1)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 34px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(2)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Gain (loss) on obtaining control of an affiliate</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">91</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">91</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">91</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Income before taxes and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">027</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">032</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(5)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">006</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">492</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">526</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(34)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">3</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">130</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">355</font></font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt;"><font style="line-height: inherit;"><font style="color: #262626; line-height: inherit;">C</font><font style="color: #262626; line-height: inherit;">urrent</font></font><font style="color: #262626;">&#160;</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(252)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(253)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(366)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(304)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(307)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(720)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(760)</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt;"><font style="color: #262626; line-height: inherit;">Deferred</font><font style="color: #262626; line-height: inherit;">&#160;</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(3)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(5)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">58</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(37)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(47)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">10</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(123)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">51</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Net income</font><font style="line-height: inherit;">&#160;</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">772</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">775</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(2)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">698</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">151</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">172</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(21)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">286</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">645</font></font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">Net income attributable to:</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Shareholders of Ultrapar</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">709</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">709</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">652</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,088</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,088</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">2,130</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,521</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Non-controlling interests in subsidiaries</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">63</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">63</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">47</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">62</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">62</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">156</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">124</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Adjusted </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">EBITDA </font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">946</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">9</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">45</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">537</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">070</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">2</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">097</font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">(27)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">205</font></font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">4</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">231</font></font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 30px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Non-recurring1</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(164)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(193)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">29</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(31)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(601)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(645)</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">44</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(770)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(137)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">EBITDA</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,783</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,753</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">30</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,506</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,468</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">1,452</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">17</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">4,434</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-right-width: 1px; border-right-style: solid; border-right-color: #004595 !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">4,093</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Depreciation and amortization<sup>2</sup></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">570</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">570</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">423</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">501</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">493</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">8</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,477</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,279</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Total invesments<sup>3</sup></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">756</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">740</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">16</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">519</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">543</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">535</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">8</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,716</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1,437</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">MTM of energy futures contracts</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(58)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(58)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">42</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">42</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">(25)</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">Cash flow hedge</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">10</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">-</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">RATIOS</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Earnings per share (R$)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">0.65</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">0.59</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">0.30</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.26</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.38</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; font-style: italic; line-height: inherit;">Net debt / Adjusted LTM EBITDA<sup>4</sup></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.7x</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.3x</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.9x</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.7x</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">1.3x</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Gross margin (%)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.7%</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.5%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.3%</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.5%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.6%</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Operating margin (%)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3.9%</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3.1%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.1%</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3.6%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">3.0%</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Adjusted EBITDA margin (%)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">5.2%</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.3%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">6.1%</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">5.0%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.3%</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: italic; line-height: inherit;">Recurring Adjusted EBITDA margin (%)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.8%</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.3%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.3%</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.2%</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;">4.2%</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 18px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Number of employees</font></td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; text-align: right; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">10,947</font></td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; text-align: right; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">9,929</font></td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; text-align: right; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">10,957</font></td>
<td style="padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; text-align: right; height: 17px;"><font style="font-size: 8pt;">10,947</font></td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br></td>
<td style="padding: 0px 4px; vertical-align: middle; margin: 0px; text-indent: 0px; text-align: right; height: 17px;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 8pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">9,929</font></td>







</tr>
















</table>
<p style="font-size: 6pt; line-height: 1.2; margin: 12pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;"><sup>1</sup> Non-recurring items described in the EBITDA calculation table &#8211; page 2</font></font><br><font style="font-family: 'times new roman', times; font-size: 8pt; line-height: inherit;"><sup>2</sup> Includes amortization with contractual assets with customers &#8211; exclusive </font><br><font style="font-size: 8pt; line-height: inherit; font-family: 'times new roman', times;"><font style="line-height: inherit;"><sup>3</sup> Includes property, plant and equipment and additions to intangible assets (net of divestitures), contractual assets with customers (exclusive rights), initial direct costs of assets with right of use, contributions made to SPEs (Specific Purpose Companies), payment of grants, financing of clients, rental advances (net of receipts), acquisition of shareholdings and payments of leases</font><font style="line-height: inherit;"><br></font><font style="line-height: inherit;"><sup>4</sup> Adjusted LTM EBITDA does not include closing adjustments from the sale of </font><font style="line-height: inherit;">Extrafarma</font><font style="line-height: inherit;"> and extraordinary tax credits</font></font></p>
<p style="font-size: 6pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-indent: 0px;">&#160;</p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><br></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-indent: 0px;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>







</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 1213px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 27px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">ULTRAPAR -</font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">Cash </font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">flows</font></font></p>








 </td>
<td colspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; line-height: inherit;">Year</font></p>








 </td>








</tr>
<tr style="height: 10px;">
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; line-height: inherit;">Jan - Sep</font><br><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; line-height: inherit;">2025</font></p>








 </td>
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; line-height: inherit;">Jan - Sep</font><br><font style="color: #ffffff; font-family: Aptos; font-size: 10pt; line-height: inherit;">2024</font></p>








 </td>








</tr>
<tr style="height: 10px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; width: 80%;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flows from operating activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; width: 10%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;"><br></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; width: 10%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 10px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net income</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">2,310 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,645 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Adjustments to reconcile net income to cash provided (consumed) by operating activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Share of profit (loss) of subsidiaries, joint ventures and associates and amortization of fair value adjustments on associates acquisition</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">117 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">9 </font></p>








 </td>








</tr>
<tr style="height: 10px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Amortization of contractual assets with customers - exclusive rights</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">339 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">403 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Amortization of right-of-use assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">267 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">230 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Depreciation and amortization</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">884 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">674 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Interest and foreign exchange rate variations</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">674</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">944 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Current and deferred income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">859 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">710 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Gain (loss) on disposal or write-off of property, plant and equipment, intangible assets and other assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;"> (45)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(141)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Equity instrument granted</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">22 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">41 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Fair value result of energy contracts</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;"> (25)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Provision for decarbonization - CBios</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">307 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">442 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Reavaliation</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> of investment in associates</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(91)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Other provisions and adjustments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;"> (41)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">69 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">Cash flow from operating </font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">acrivities</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;"> before changes in working capital</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">5</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">7</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">7</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; line-height: inherit;">5</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">,</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">025 </font></font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">(Increase) decrease in assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade receivables and reseller financing</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(116)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">158 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">268 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(455)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Recoverable taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(84)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">280</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Dividends received from subsidiaries, associates and joint ventures</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">11 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">2 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Other assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">39 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(180)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Increase (decrease) in liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade payables and trade payables - reverse factoring</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(1,255)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(1,400)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">17 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(32)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Taxes payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">3 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(30)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Income and social contribution taxes payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(733)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">(719)</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">&#160;</font></font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Other liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">12</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(19)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Acquisition of CBios and carbon credits</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(323)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(587)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Payments of contractual assets with customers - exclusive rights</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(284)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(286)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Payment of contingencies</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(20)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(31)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Income and social contribution taxes paid</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(69)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(220)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided (consumed) by continued operating activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">3,044 </font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,505 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Net cash generated (consumed) by discontinued operating activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">27 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash generated (consumed) by operating activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">3,071 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,505 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flows from investing activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Financial investments, net of redemptions</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">648 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(2,052)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Acquisition of property, plant and equipment</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">(1</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">,</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">335)</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">(1</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">,</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">099)</font></font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Cash provided by disposal of investments and property, plant and equipment</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">111 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,256 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Capital decrease in subsidiaries, associates and joint ventures</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: Aptos; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Net cash consumed in the purchase of investments and other assets</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(617)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(1,243) </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #000000; font-family: Aptos; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Cash acquired in business combination</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">1,172 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided (consumed) by investing continued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">(21)</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">(3,137)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Net cash provided (consumed) by investing discontinued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">(22)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided (consumed) by investing activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">(43)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">(3,137)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flows from financing activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Loans, financing and debentures</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Proceeds</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">4,960 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">3,659 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Repayments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(4,522)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(2,126)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 20pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Interest and derivatives (paid) or received</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(1,262)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(742)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Payments of leases</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">(367)</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">(326)</font></font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Dividends paid</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(899)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(781)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Payments of financial liabilities of customers</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(98)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(123)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Capital increase of non-controlling shareholders</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(12)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">14 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Repurchase of treasury shares</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(267)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Related parties</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(32)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">(12)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided (consumed) by financing continued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">(2,499)</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">(438)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Net cash provided (consumed) by financing discontinued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">(1)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Net cash provided (consumed) by financing activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">(2,499)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">(438)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Effect of exchange rate changes on cash and cash equivalents in foreign currency</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">(62)</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Increase (decrease) in cash and cash equivalents continued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">462 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">(2,070)</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Increase (decrease) in cash and cash equivalents discontinued activities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">5 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash and cash equivalents continued activities at the beginning of the period</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">2,072 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">5,926 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Cash and cash equivalents discontinued activities at the beginning of the period</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">11 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash and cash equivalents continued activities at the end of the period</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">2,534 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">3,855 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">Cash and cash equivalents discontinued activities at the end of the period</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">16 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Non-cash transactions</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;</font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Addition on right-to-use assets and leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">280 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">274 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Addition on contractual assets with customers - exclusive rights</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">59 </font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">54 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Reclassification between financial assets and investment in associates</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">-</font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 7pt; line-height: 108%; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">645 </font></p>








 </td>








</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Acquisition of property, plant and equipment and intangible assets without cash effect</font></p>








 </td>
<td style="background-color: #d9e5f1; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">24</font></font></p>








 </td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #8d8b8c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">9 </font></p>








 </td>








</tr>

















</table>
<p style="font-size: 9pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;">&#160;</p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2pt; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2pt; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><br></font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">Starting from 1Q25, the concept of operating capital has been adjusted to reflect all balances of operational assets and liabilities from management's perspective, including primarily the balances of current and deferred income tax, with the comparative balances for 2024 being restated (previously, due to the centralized management of these items, these balances were only included in<font>&#160;</font></font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">Ultrapar's</font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><font>&#160;</font>consolidated view).</font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><br></font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.7599%; height: 383.125px;" width="100%">

<tr style="height: 0px;">
<td rowspan="2" style="background-color: #00458c; vertical-align: middle; height: 27.125px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">IPIRANGA </font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">- </font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">Employed</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;"> capital</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; vertical-align: middle; height: 27.125px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 25 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; vertical-align: middle; height: 27.125px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important;">
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font> <font style="color: #ffffff; line-height: inherit;">24 </font></font></p>








 </td>
<td style="background-color: #8d8b8c; vertical-align: middle; height: 27.125px; border-top-width: 1px; border-top-style: solid; border-bottom: 1pt solid #00458c; border-top-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;" rowspan="2">
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun 25</font></p>







</td>







</tr>
<tr style="height: 27.125px;"></tr>
<tr style="height: 10px;">
<td style="vertical-align: bottom; height: 10px; padding: 0px 4px; width: 70%;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="font-weight: bold; line-height: inherit;">O</font><font style="font-weight: bold; line-height: inherit;">perating assets</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important; width: 10%;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="vertical-align: bottom; height: 10px; width: 10%;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; width: 10%;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables and reseller financing</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,200 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,133 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,041 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,421 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,525 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,635 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">T</font><font style="color: #262626; line-height: inherit;">axes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5,159 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,703 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5,080 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Recoverable income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">335 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">366 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">349 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Judicial</font><font style="color: #262626; line-height: inherit;"> deposits</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">336 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">319 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">331 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">549 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">884 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">566 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">500 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">638 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">554 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Contractual assets with customers - exclusiv</font><font style="color: #262626; line-height: inherit;">e</font><font style="color: #262626; line-height: inherit;"> rights</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,136 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,142 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,088 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Right-of-use</font><font style="color: #262626; line-height: inherit;"> assets (leases)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">838 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">923 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">835 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">125 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">151 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">133 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,324 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,207 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,298 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: top; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Intang</font><font style="color: #262626; line-height: inherit;">ible</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,113 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,275 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 1,153 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">operating assets</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">22,037 </font></p>








 </td>
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,267 </font></p>








 </td>
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22,063 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables and reverse factoring</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,896 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 3,977 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2,628 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">233 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">242 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">192 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Post-employment benefits</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">230 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">272 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">226 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">128 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">108 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">122 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Income and social contribution taxes payable</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">158 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">253 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">178 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">4 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">P</font><font style="color: #262626; line-height: inherit;">rovisions for tax, civil, and labor risks</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">438 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">447 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">469 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">688 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">734 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">698 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Financial liabilities of customers</font><font style="color: #262626; line-height: inherit;"> (vendor)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">97 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">211 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">122 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Provision for decarbonization credit</font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0)</font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">268 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">56 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="background-color: #ffffff; padding-left: 9pt; vertical-align: bottom; height: 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">520 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">675 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">699 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Total </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">operating liabilities</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;"> 5</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-weight: bold; line-height: inherit;">390</font> </font></p>








 </td>
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; line-height: inherit;">7</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">185</font></font></p>








 </td>
<td style="vertical-align: middle; height: 12px; padding: 0px 4px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-right-color: #00458c !important;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; line-height: inherit;"> 5</font><font style="color: #00458c; line-height: inherit;">,</font><font style="color: #00458c; line-height: inherit;">395</font> </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; vertical-align: middle; height: 10px; padding: 0px 4px;">
<p style="font-size: 2pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; vertical-align: middle; height: 10px; padding: 0px 4px;">
<p style="font-size: 2pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="vertical-align: middle; height: 10px; padding: 0px 4px;">
<p style="font-size: 2pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; height: 12px; padding: 0px 0px 0px 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">N</font><font style="color: #262626; line-height: inherit;">umber of service stations</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5,812 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5,871 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 5,826 </font></p>








 </td>







</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; height: 12px; padding: 0px 0px 0px 12px;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">N</font><font style="color: #262626; line-height: inherit;">umber of employees</font></font></p>








 </td>
<td style="background-color: #d9e5f1; vertical-align: bottom; height: 12px; padding: 0px 4px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,059 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,834 </font></p>








 </td>
<td style="vertical-align: bottom; height: 12px; padding: 0px 4px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="font-size: 8pt; line-height: 1.2; margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4,072 </font></p>








 </td>







</tr>
















</table>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">87</font></font></td>







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;"><br></font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;">Starting from 1Q25, the concept of operating capital has been adjusted to reflect all balances of operational assets and liabilities from management's perspective, including primarily the balances of current and deferred income tax, with the comparative balances for 2024 being restated (previously, due to the centralized management of these items, these balances were only included in </font><font style="font-family: Aptos; line-height: inherit;">Ultrapar's</font><font style="font-family: Aptos; line-height: inherit;"> consolidated view).</font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;"><br></font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 425.725px;" width="100%">

<tr style="height: 0px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 19.725px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">ULTRAGAZ </font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">- </font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">Employed capital</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 19.725px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"> <font style="color: #ffffff; font-family: Aptos; line-height: inherit;">Se</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">p</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;"> 25 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 19.725px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"> <font style="color: #ffffff; font-family: Aptos; line-height: inherit;">Se</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">p</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;"> 24 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 19.725px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">Jun</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;"> 25</font></font></p>








 </td>







</tr>
<tr style="height: 19.725px;"></tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; width: 70%;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">658 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">665 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">716 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">239 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">204 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">234 </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">T</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">axes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">152 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">151 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">224 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Recoverable income and social contribution</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">25 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">24 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">26 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Judicial deposits</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">49 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">723 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">47 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Deferred income and social contribution</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">89 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">216 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">89 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">O</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">122 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">95 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">154 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Right-of-use assets</font> <font style="color: #262626; font-family: Aptos; line-height: inherit;">(</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">leases</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">179 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">152 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">184 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Investments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">5 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">6 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Property, plant and equipment, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,601 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,509 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,572 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Intangible assets, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">325 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">333 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">325 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Total Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">3,443 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">4,073 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; line-height: inherit;">3,576 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade payables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">270 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">257 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">250 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">150 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">140 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">124 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Tax</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">es</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">23 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">18 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">24 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Income and social contribution </font><font style="color: #262626; font-family: Aptos; line-height: inherit;">taxes </font><font style="color: #262626; font-family: Aptos; line-height: inherit;">payable</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">88 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">114 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">97 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">D</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">eferred income and social contribution</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">121 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">0 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">100</font></p>








 </td>







</tr>
<tr style="height: 19px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">P</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">rovisions for tax, civil, and labor risks</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 19px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">16 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">629 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 19px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">16 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">215 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">189 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">221 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">O</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">136 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">300 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">144 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Total Operating Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">1</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">,</font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">021</font> </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; line-height: inherit;">1</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">,</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">6</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">4</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">8 </font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; line-height: inherit;">97</font><font style="color: #00458c; font-family: Aptos; line-height: inherit;">6</font> </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;"><br></td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 18pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">N</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">umber of employees</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">3</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">,</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">682 </font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">3</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">,</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">745 </font></font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">3</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">,</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">690 </font></font></p>








 </td>







</tr>
















</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt;"><br></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></font></p>
<table cellspacing="0" cellpadding="0" style="height: 425.338px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">

<tr style="height: 0px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 21.3375px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; font-weight: bold; line-height: inherit;">ULTRACARGO -</font><font style="color: #ffffff; font-weight: bold; line-height: inherit;">Employed capital</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 21.3375px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 25 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 21.3375px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #ffffff; line-height: inherit;"> Se</font><font style="color: #ffffff; line-height: inherit;">p</font><font style="color: #ffffff; line-height: inherit;"> 24 </font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 21.3375px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-top-color: #8d8b8c !important; border-bottom-color: #00458c !important; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jun 25</font></p>








 </td>







</tr>
<tr style="height: 21.3375px;"></tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; width: 70%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">41 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">59 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">13 </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">T</font><font style="color: #262626; line-height: inherit;">axes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 0 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 4 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 2 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Recoverable income and social contribution</font><font style="color: #262626; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">31 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">49 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">29 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Judicial deposits</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 9 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 9 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 9 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Deferred income and social contribution</font><font style="color: #262626; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">25 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">37 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">22 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">38 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">33 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Right-of-use assets</font> <font style="color: #262626; line-height: inherit;">(</font><font style="color: #262626; line-height: inherit;">leases</font><font style="color: #262626; line-height: inherit;">)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">618 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">609 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">598 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Investments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">238 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">216 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">239 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Property, plant and equipment, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,503 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">1,971 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">2,375 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Intangible assets, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">286 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">283 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">287 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,787 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,273 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">3,680 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Trade payables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">81 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">76 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">69 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">41 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">45 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">36 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Tax</font><font style="color: #262626; line-height: inherit;">es</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Income and social contribution </font><font style="color: #262626; line-height: inherit;">taxes </font><font style="color: #262626; line-height: inherit;">payable</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">14 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">16 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">18 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">D</font><font style="color: #262626; line-height: inherit;">eferred income and social contribution</font><font style="color: #262626; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">0 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">- </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(0) </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">P</font><font style="color: #262626; line-height: inherit;">rovisions for tax, civil, and labor risks</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">12 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">30 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">28 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">560 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">557 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">548 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">thers</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">24 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">38 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">23 </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Total Operating Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">749 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">778 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #00458c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">736 </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 7pt; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 18pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">N</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">umber of employees</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-left-width: 1pt; border-left-style: solid; border-left-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">85</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">3</font> </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">842 </font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #8d8b8c; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #8d8b8c; border-right-width: 1pt; border-right-style: solid; border-right-color: #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">849 </font></p>








 </td>







</tr>
















</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;">&#160;&#160;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="margin: 0pt;"><br></p>







</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-indent: 0px;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></p>
<table cellspacing="0" cellpadding="0" style="height: 431.537px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">

<tr style="height: 0px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20.5375px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">HIDROVIAS - </font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">Employed Capital</font></font></p>








 </td>
<td rowspan="2" style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 20.5375px; border-width: 1px; border-style: solid;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; line-height: inherit;"> Se</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">p</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;"> 25 </font></font></p>








 </td>







</tr>
<tr style="height: 20.5375px;"></tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px; width: 90%;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; width: 10%; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade receivables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">170</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Inventories</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">170</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">21</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Recoverable income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">204</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Judicial deposits</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">94</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Deferred income and social contribution taxes</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">107</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Others</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">263</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Right-of-use</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> assets (leases)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">286</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Investments</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">25</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Property, plant and equipment, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">4,646</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Intangible assets, net</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">1,406</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Total Operating Assets</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">7,391</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating Liabilities</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Trade payables</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">121</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Salaries and related charges</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">82</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Tax</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">es</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">77</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">Income and social contribution</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> taxes</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> payable</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">35</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">D</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">eferred income and social contribution</font><font style="color: #262626; font-family: Aptos; line-height: inherit;"> taxes</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">508</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">P</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">rovisions for tax, civil, and labor risks</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">93</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">Leases payable</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">237</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">O</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">thers<font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: Aptos; font-size: 10pt; line-height: inherit;">149</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">Total Operating </font><font style="color: #00458c; font-family: Aptos; font-weight: bold; line-height: inherit;">Liabilities</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 10pt; font-weight: bold; line-height: inherit;">1,303</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>
<td style="padding: 0px 4px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: Aptos; font-size: 7pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-indent: 18pt;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #262626; font-family: Aptos; line-height: inherit;">N</font><font style="color: #262626; font-family: Aptos; line-height: inherit;">umber of employees</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border: 1pt solid #8d8b8c;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: Aptos; line-height: inherit;">1</font><font style="font-family: Aptos; line-height: inherit;">,</font><font style="font-family: Aptos; line-height: inherit;">84</font><font style="font-family: Aptos; line-height: inherit;">2</font></font></p>








 </td>







</tr>
















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

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







</tr>















</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>







</div>
<p style="margin: 0pt;"><br></p>
<table style="height: 27px; width: 100%; font-size: 10pt; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman';">

<tr style="height: 10px;">
<td style="width: 55.9738%; height: 10px; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><font style="font-family: 'times new roman', times;"><font style="color: #00458c; font-size: 18pt; float: none; display: inline !important;">3Q25</font></font></td>
<td style="height: 10px; width: 43.9853%; text-align: right; vertical-align: middle; border-bottom-width: 2px; border-bottom-style: solid; border-bottom-color: #000080 !important;" valign="middle"><img src="cb2d5592ec92fb0ffdc1.jpg" style="height:60;width:140;" alt="Graphics"><br></td>





























</tr>



























































</table>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: left;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">&#160;</font></b></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: left;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><b style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 13.3333px; text-align: left;"><font lang="EN-US" style="line-height: 14.2667px; color: #00458c;">R$ million</font></b></font></p>
<table cellspacing="0" cellpadding="0" style="height: 417px; border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td rowspan="2" style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 27px; border-top-width: 1px; border-top-style: solid; border-top-color: #00458c !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #00458c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">HIDROVIAS - </font><font style="color: #ffffff; font-family: Aptos; font-weight: bold; line-height: inherit;">Income statement</font></font></p>








 </td>
<td style="background-color: #00458c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border-image: initial; height: 17px; border-width: 1px; border-color: #8d8b8c !important; border-style: solid;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"> <font style="color: #ffffff; font-family: Aptos; line-height: inherit;">Quarter</font> </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #8d8b8c; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #00458c !important; border-right-width: 1px; border-right-style: solid; border-right-color: #8d8b8c !important; border-left-width: 1px; border-left-style: solid; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; line-height: inherit;"> <font style="color: #ffffff; font-family: Aptos; line-height: inherit;">3</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">Q</font><font style="color: #ffffff; font-family: Aptos; line-height: inherit;">25 </font></font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; width: 90%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Net Revenue</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #00458c !important; border-right-color: #00458c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">705 </font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Net operating revenue</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">711 </font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Hedge accounting</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(6)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Operating costs</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(300)</font></p>








 </td>







</tr>
<tr style="height: 10px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation and amortization (costs)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (83)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Depreciation business combination (costs)</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(9)</font></p>








 </td>







</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Gross profit</font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">314 </font></p>








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<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating expenses</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








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<p style="margin: 0pt; text-indent: 20pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Selling and marketing</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(76)</font></p>








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<p style="margin: 0pt; text-indent: 20pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">General and administrative</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(7)</font></p>








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<p style="margin: 0pt; text-indent: 20pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Estimate of expected losses</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">(32)</font></p>








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<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Result</font><font style="color: #262626; line-height: inherit;">s from disposal of assets</font></font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> (23)</font></p>








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<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">O</font><font style="color: #262626; line-height: inherit;">ther operating income (expenses), net</font></font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">3</font></p>








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<td style="padding: 0px 4px; vertical-align: middle; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Operating income</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;"> 179</font></p>








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<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Share of profit (loss) </font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">17</font></p>








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<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








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<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Adjusted </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">EBITDA</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">332 </font></p>








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<p style="margin: 0pt; text-indent: 10pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">N</font><font style="color: #262626; line-height: inherit;">on-recurring<font style="font-size: 8pt;"><sup>1</sup></font></font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-left-color: #8d8b8c !important; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"> 29</font></p>








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<td style="padding: 0px 4px; vertical-align: middle; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #00458c !important; border-bottom-color: #00458c !important; border-left-color: #00458c !important;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #00458c; font-weight: bold; line-height: inherit;">Recurring Adjusted </font><font style="color: #00458c; font-weight: bold; line-height: inherit;">EBITDA</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: middle; height: 17px; border-left-width: 1px; border-left-style: solid; border-top: 1pt solid #00458c; border-bottom: 1pt solid #00458c; border-right-width: 1pt; border-right-style: solid; border-right-color: #00458c;">
<p style="margin: 0pt; text-align: right;"><font style="color: #00458c; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">361 </font></p>








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<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; line-height: inherit;">Depreciation and amortization</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">130 </font></p>








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<td style="padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>








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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">RATIOS</font></p>








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<p style="margin: 0pt; text-align: right;"><font style="color: #051273; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</font></p>








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<td style="background-color: #ffffff; padding: 0px 4px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; font-style: italic; line-height: inherit;">Gross margin</font><font style="color: #262626; font-style: italic; line-height: inherit;"> (</font><font style="color: #262626; font-style: italic; line-height: inherit;">%</font><font style="color: #262626; font-style: italic; line-height: inherit;">)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">44.5%</font></p>








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<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; font-style: italic; line-height: inherit;">Operating margin</font><font style="color: #262626; font-style: italic; line-height: inherit;">(</font><font style="color: #262626; font-style: italic; line-height: inherit;">%</font><font style="color: #262626; font-style: italic; line-height: inherit;">)</font></font></p>








 </td>
<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">25.4%</font></p>








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<p style="margin: 0pt;"><font style="font-size: 10pt; line-height: inherit; font-family: 'times new roman', times;"><font style="color: #262626; font-style: italic; line-height: inherit;">Adjusted EBITDA margin</font><font style="color: #262626; font-style: italic; line-height: inherit;"> (</font><font style="color: #262626; font-style: italic; line-height: inherit;">%</font><font style="color: #262626; font-style: italic; line-height: inherit;">)</font></font></p>








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<td style="background-color: #d9e5f1; padding: 0px 4px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-right-width: 1px; border-right-style: solid; border-left-width: 1px; border-left-style: solid; border-bottom-color: #8d8b8c !important; border-right-color: #8d8b8c !important; border-left-color: #8d8b8c !important;">
<p style="margin: 0pt; text-align: right;"><font style="color: #262626; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; line-height: inherit;">47.1%</font></p>








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<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: left;"><font style="font-family: Aptos; font-size: 10pt; line-height: inherit;"><font style="font-size: 8pt;"><sup>1</sup></font> Non-recurring items described in the EBITDA calculation table &#8211; page 2</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">91</font></font></td>







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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>






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</div><div id="D4bkwueqpr5e07lz34m1s7e8" style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0pt; text-align: right; line-height: 1.2;"><font style="font-family: 'Century Gothic'; font-size: 10pt; ; line-height: inherit;">&#160;</font></p>
<p style="margin: 0pt; line-height: 1.2; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="; line-height: inherit;">(Minutes of the Meeting of the Board of Directors of Ultrapar Participa&#231;&#245;es S.A.</font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bddnn22_1210202534730890"><font style="; line-height: inherit;">, held on </font><font style="; line-height: inherit;">November</font><font style="; line-height: inherit;"> 1</font><font style="; line-height: inherit;">2</font><font style="; line-height: inherit;">, 2025</font></a><font style="; line-height: inherit;">)</font></font><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<h2 style="font-size: 9pt; line-height: 150%; margin: 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="font-weight: bold; ; line-height: inherit;">Publicly</font> <font style="font-weight: bold; ; line-height: inherit;">Traded</font> <font style="font-weight: bold; ; line-height: inherit;">Company</font></font></h2>
<p style="margin: 0pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">&#160;</font></p>
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<tr>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">CNPJ n&#186; 33.256.439/0001-39</font></p>






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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">NIRE 35.300.109.724</font></p>






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<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">Date, Hour and Place: </font></p>
<p style="font-size: 9pt; 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;">November</font><font style="; line-height: inherit;"> 1</font><font style="; line-height: inherit;">2</font><font style="; line-height: inherit;">, 2025, at 10:00 a.m., at</font><font style="; line-height: inherit;"> ULTRAPAR PARTICIPA&#199;&#213;ES S.A. (&#8220;Company&#8221;) headquarters, located at Brigadeiro Lu&#237;s Ant&#244;nio Avenue, Nr. 1.343, 9th floor, in the City and State of S&#227;o Paulo, also contemplating participation through Microsoft Teams. </font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">Members in attendance: </font></p>
<p style="font-size: 9pt; 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;">(</font><font style="; line-height: inherit;">i</font><font style="; line-height: inherit;">) Members of the Board of Directors undersigned; (ii) the Secretary of the Board of Directors, Ms. Denize Sampaio Bicudo</font><font style="; line-height: inherit;">;</font><font style="; line-height: inherit;"> and</font><font style="; line-height: inherit;"> (iii)</font><font style="; line-height: inherit;"> Chief Executive Officer, Mr. Rodrigo de Almeida Pizzinatto</font><font style="; line-height: inherit;">; (iv) C</font><font style="; line-height: inherit;">hief Financial and Investor Relations Officer, Mr. Alexandre Mendes Palhares; and (v) Chief Executive Officers of the Company&#8217;s businesses, Mrs. Fulvius Tomelin, Leonardo </font><font style="; line-height: inherit;">Remi&#227;o</font><font style="; line-height: inherit;"> Linden and </font><font style="; line-height: inherit;">Tabajara</font><font style="; line-height: inherit;"> Bertelli Costa</font><font style="; line-height: inherit;">. </font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">Matter discussed and resolution: </font></p>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2;">&#160;</div>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2; text-align: justify;">1.&#160; &#160; &#160;After having analyzed and discussed the performance of the Company in the third quarter of the current fiscal year, the respective financial statements were approved.</div>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2; text-align: justify;">&#160;<br>2.&#160; &#160; &#160;The Board members approved the fees proposal of Deloitte Touche Tohmatsu Auditores Independentes Ltda. to provide auditing services for the 2025 financial statements, as proposed by the Executive Board and recommended by the Company&#8217;s Audit and Risk Committee.</div>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2; text-align: justify;">&#160;<br>3.&#160; &#160; &#160;The Board members approved, pursuant to article 27, item (p), of the Company&#8217;s Bylaws, the contracting of indebtedness through the issuance, by Ipiranga with Banco Ita&#250; S.A., of an export credit note, in the principal amount of up to US$ 300,000,000.00 (&#8220;ECN&#8221;), maturing on June 6, 2029. The ECN shall be subject to U.S. dollar exchange rate variation, plus compensatory interest of up to 6.50%, and Ipiranga may use foreign exchange hedging instruments.</div>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2; text-align: justify;">&#160;<br>4.&#160; &#160; &#160;The Board members also approved that Ipiranga may discuss, negotiate and execute, through its Executive Board and/or representatives, all documents and perform all acts related to the above resolution, including all acts necessary for the execution, formalization and completion of the ECN, as presented by the Executive Board.</div>
<div style="margin: 0pt; padding-left: 0pt; line-height: 1.2; text-align: justify;">&#160;<br>5.&#160; &#160; &#160; As a final point, considering the Stock-Based Incentive Plan approved by the Company&#8217;s Extraordinary General Meeting on April 19, 2023, the Board members approved, based on the recommendation of the People Committee: (i) the 6th Restricted Stock-Based Incentive Program (&#8220;Program&#8221;), (ii) the list of participants designated to take part in the Program and the respective number of shares to be granted, and (iii) the execution of agreements between the Company and each participant of the programs mentioned in item (i). These documents will be filed at the Company&#8217;s headquarters.</div>
<p style="margin: 0pt 0pt 0pt 35.4pt; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; 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="font-weight: bold; ; line-height: inherit;">Notes: </font><font style="; line-height: inherit;">The resolution</font><font style="; line-height: inherit;">s</font><font style="; line-height: inherit;"> were approved, with no amendments or qualifications, by all Board members. </font></font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; ; line-height: inherit;">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></p>




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<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br></p>
<p style="font-size: 9pt; 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="font-weight: bold; ; line-height: inherit;">MARCOS MARINHO LUTZ &#8211; </font><font style="; line-height: inherit;">Chairman</font></font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; 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="font-weight: bold; ; line-height: inherit;">JORGE MARQUES DE TOLEDO CAMARGO &#8211; </font><font style="; line-height: inherit;">Vice-Cha</font><font style="; line-height: inherit;">i</font><font style="; line-height: inherit;">rman</font></font><font style="font-size: 10pt; font-weight: bold;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">FABIO VENTURELLI</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">FL&#193;VIA BUARQUE DE ALMEIDA</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">FRANCISCO DE S&#193; NETO</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">JOS&#201; MAURICIO PEREIRA COELHO</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">MARCELO FARIA DE LIMA</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">PETER PAUL LOREN&#199;O ESTERMANN</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">V&#194;NIA MARIA LIMA NEVES</font><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; line-height: 1.2; margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ; line-height: inherit;">&#160;</font></p>
<p style="font-size: 9pt; 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="font-weight: bold; ; line-height: inherit;">DENIZE SAMPAIO BICUDO &#8211; </font><font style="; line-height: inherit;">Secretary of the Meeting</font></font></p>




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  </div><div style="font-family: 'times new roman', times; font-size: 10pt;" id="Dfj8n86xh8rdoa7zcj9dog">
<div style="width: 8.5in; margin: 0 auto;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br></font></div>
<div style="width: 8.5in; margin: 0 auto;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">SIGNATURES</font>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt; text-indent: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">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; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Date: November 12, 2025&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</font></p>
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<td style="width: 48.0243%; height: 17px;" colspan="2"><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: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ULTRAPAR HOLDINGS INC.</font><br></td>


















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<td style="width: 3.02432%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><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: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">By:</font></td>
<td style="width: 45%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">/s/ Alexandre Mendes Palhares</font></font></td>


















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<td style="width: 3.02432%; height: 17px;"><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: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Name:</font></td>
<td style="width: 45%; height: 17px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Alexandre Mendes Palhares</font></font></td>


















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<td style="width: 3.02432%; height: 17px;"><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: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Title:</font></td>
<td style="width: 45%; height: 17px;"><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: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Chief Financial and Investor Relations Officer</font></td>


















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<p style="font-size: 9pt; line-height: 115%;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;"><br></font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">(</font><font style="font-style: italic;">Minutes of the Meeting of the Board of Directors of Ultrapar Participa&#231;&#245;es S.A., held on November</font>&#160;12<font style="font-style: italic;">, 2025</font><font style="font-style: italic;">)</font></font></p>
















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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
